Global law firm Norton Rose Fulbright has advised CMBI International Capital Limited (CMBI) as sole sponsor and the consortium of underwriters on the initial public offering of China Beststudy Education Group (Beststudy).
Beststudy is the largest K-12 after-school education service provider in southern China and the fifth largest nationwide as measured by total student enrolments and revenue in 2017.
This IPO marks the first time that company with K-12 after-school tutoring business in China has been listed on the Hong Kong Stock Exchange.
The Norton Rose Fulbright team was led by corporate, M&A and securities partner Terence Lau in Hong Kong.
Terence Lau commented: “We are delighted to have advised on the first listing of a PRC K-12 tutoring business on the Hong Kong Stock Exchange. This successful IPO may signal the increased appetite of fast-growing tutoring companies in China or other countries to seek listings on the Hong Kong Stock Exchange to raise capital and expand.”
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