GSX Techedu secondary follow-on nets $252m

Online Education_230px
By Jonathan Breen
22 Nov 2019

A shareholder group in Chinese education technology firm GSX Techedu have bagged $252m after selling a chunk of its US-listed stock.

A clutch of nine vendors jumped at the opportunity to sell a portion of their holding in GSX’s American Depository Shares (ADSs) after the stock surged 12.3% over the weekend. They were looking to raise around $250m.

The block comprised 15m of the New York Stock Exchange-listed ADSs, ...

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