<article><a href="https://www.dealstreetasia.com/?s=Koolearn%20Technology">Koolearn Technology</a>, an online education service provider in China backed by <a href="https://www.dealstreetasia.com/?s=Tencent">Tencent</a>, has submitted an application for a listing on the main board of the Hong Kong Stock Exchange.</article>

<a href="https://www.dealstreetasia.com/?s=Koolearn%20Technology">Koolearn Technology</a>, an online education service provider in China backed by <a href="https://www.dealstreetasia.com/?s=Tencent">Tencent</a>, has submitted an application for a listing on the main board of the Hong Kong Stock Exchange.
The company, which is a subsidiary of the NYSE-listed Chinese private education services provider <a href="https://www.dealstreetasia.com/?s=New%20Oriental Education and Technology">New Oriental Education and Technology</a>, has not specified the number of shares it plans to offer and the total amount it seeks to raise in the listing.
The proposed listing follows three rounds of funding backed by investors including Tencent, Dragon Cloud, ChinaCity Capital, and Tigerstep.
According to its <a href="http://www.hkexnews.hk/app/sehk/2018/2018071701/documents/sehk201807170023.pdf">prospectus</a>, Koolearn, established in 2005, provides professional online education services for preschool children, primary and middle school students, college students and professionals based on business-to-consumer and business-to-business models.
&#8220;Our technology platform connects our students with teachers, provides them with full technological support, and enhances our operation management capabilities,&#8221; Koolearn said.
Its online courses and products are available through different platforms including its official website, Alibaba’s Tmall, and JD.com.
New Oriental directly holds a 66.72 per cent stake in the company, while Image Frame, a subsidiary of internet giant Tencent Holdings, holds 12.06 per cent.
For the nine months ended February 2018, Koolearn posted revenue of RMB 485.4 million, up from RMB 327.4 million from the same period a year earlier. During the same period, the company said its student enrolments increased to 1.4 million from 702,000.
Koolearn joins a long list of Chinese firms planning to raise funds through a Hong Kong IPO. Most recently, China Tower, the world’s biggest operator of mobile phone network masts, plans to raise up to $8.8 billion from a Hong Kong listing at a valuation of up to $35 billion, Thomson Reuters publication IFR reported, citing people close to the deal.
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The proposed listing follows three rounds of funding backed by investors including Tencent, Dragon Cloud, ChinaCity Capital, and Tigerstep.

Tencent-backed online education firm Koolearn files for HK IPO

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Tencent-backed online education firm Koolearn files for HK IPO

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