US-listed New Oriental launches HK secondary offering

By Jonathan Breen
29 Oct 2020

New Oriental Education & Technology Group, one of China’s largest private education companies, has kicked off bookbuilding for a Hong Kong secondary listing worth around $1.4bn.

The New York Stock Exchange-listed issuer opened the order book on Wednesday night in Hong Kong. It is floating 8.5m common shares on the city’s bourse, with 1.3m shares for a greenshoe.

The last close of New Oriental’s American depository shares (ADS) before launch was $168.81. Each of ...

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