Updated: Edvantage IPO lands in the middle

Textbooks 230x150
By Gina Lee
10 Jul 2019

Private education provider Edvantage Group has priced its well-oversubscribed Hong Kong IPO in the middle of the price range, raking in HK$712.5m ($91.2m).

The issuer sold 250m shares at HK$2.85 each after providing guidance of HK$2.48-HK$3.22 a share. The deal size can be boosted to HK$819.38m if the 15% greenshoe of 37.5m shares is exercised in full.

“The issuer wanted a higher price, but also wanted to leave room for investors,” ...

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