First High-School Education Group, which operates private high schools and provides tutoring services in China, has filed with the US Securities and Exchange Commission to raise up to $100 million in an initial public offering.
The Kunming-based company was founded in 2012 and a large operator of private high schools in Western China. Originally an after-school tutoring services provider, it has developed a network of 19 schools, offering 14 high school programmes, seven middle school programmes, and four tutorial school programmes. It has also collaborated with local governments and other third parties in China and expects to launch two new schools offering high school programmes in September.
First High-School Education Group reported $62 million in revenue in its last financial year.
The joint bookrunners on the deal are The Benchmark Company, Tiger Brokers, Valuable Capital, Fosun Hani Securities, TF International, AMTD Global Markets, Maxim Group, and Boustead Securities. No pricing terms were disclosed.
Date published: 18 January 2021