China's education firm Puxin makes NYSE debut

    Source: Xinhua| 2018-06-16 02:32:46|Editor: Mu Xuequan
    Video PlayerClose

    NEW YORK, June 15 (Xinhua) -- China's after-school education service provider Puxin Limited debuted on the New York Stock Exchange (NYSE) on Friday, trading under the ticker symbol of "NEW."

    Puxin priced its initial public offering (IPO) of 7,200,000 American Depositary Shares (ADSs) at 17.00 U.S. dollars per ADS, for a total offering size of 122.4 million dollars, assuming the underwriters do not exercise their option to purchase additional ADSs. Each ADS represents two ordinary shares of the company.

    The underwriters have been granted an option, exercisable within 30 days from the date of the final prospectus, to purchase up to 1,080,000 additional ADSs at the initial public offering price less the underwriting discount.

    Puxin said that 70 percent of the proceeds from the IPO will be used for financing potential strategic acquisitions and launch of new schools in China. In addition, 15 percent would be applied to technology systems and online platforms, 10 percent to marketing and 5 percent for working capital and other purposes.

    Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Barclays Capital Inc., Haitong International Securities Company Limited, and China International Capital Corporation Hong Kong Securities Limited are acting as joint bookrunners for the offering.

    Puxin started trading at 17.00 dollars per share on Friday, the same as its IPO price, and jumped above 21 dollars apiece around midday.

    "By listing on the NYSE, we hope Puxin can acquire extra credibility besides the proceeds, as the exchange has a history of more than 220 years, so that the company can attract more talented people to help us develop the business," Peng Wang, chief financial officer of Puxin, told Xinhua after the opening bell.

    Founded four years ago, the Beijing-based company is now the third-largest education service in China by student enrollments, according to a report by Frost & Sullivan.

    Puxin had acquired 48 schools and built a nationwide network of 397 learning centers across 35 cities in China as of March 31, 2018, the company said in the prospectus.

    Puxin's net revenues increased 192 percent to 204.5 million dollars in 2017, and for the three months ended March 31, 2018, its net revenues reached 79 million dollars, an increase of 150 percent from a year ago.

    The company's net loss was 63.3 million dollars and 56.6 million dollars in 2017 and the first quarter of 2018, respectively.

    TOP STORIES
    EDITOR’S CHOICE
    MOST VIEWED
    EXPLORE XINHUANET
    010020070750000000000000011105091372570831
    主站蜘蛛池模板: 免费h视频在线观看| 三级网站在线免费观看| 欧美线在线精品观看视频| 国产一卡二卡≡卡四卡无人区| 91欧美在线视频| 成人免费看黄20分钟| 久久综合五月婷婷| 欧美精品免费在线| 午夜免费1000部| 黄视频免费下载| 国产青草视频在线观看| 中国大陆高清aⅴ毛片| 日韩美女片视频| 亚洲欧美国产精品| 精品久久久久久久久中文字幕 | 国产自偷在线拍精品热| 中国一级特黄毛片| 日韩一级二级三级| 亚洲人成无码网站久久99热国产 | 欧美最猛黑人猛交69| 出租房换爱交换乱第二部| 青娱乐国产在线视频| 国产真实乱子伦精品| 99久久免费精品高清特色大片| 强开小娟嫩苞又嫩又紧| 久久久久亚洲AV无码网站| 欧洲mv日韩mv国产| 亚洲电影中文字幕| 男女猛烈xx00免费视频试看| 国产-第1页-浮力影院| 高h全肉动漫在线观看最新| 国产精品免费观看| 99re在线视频精品| 好男人在线社区www在线视频一| 中文字幕日韩欧美一区二区三区| 日韩成人精品日本亚洲| 亚洲人成片在线观看| 欧美最猛黑人xxxxx猛交| 人妻少妇精品视频专区| 精品卡一卡2卡三卡免费观看| 国产一区二区三区在线看|