China education provider teaches investors about post-IPO rallies
The opportunity to own first Chinese education stock sees investors pile into New Oriental's offering. Price is fixed 15% above the top of the indicative range.
New Oriental Education Technology Group rallied 46.6% in the first two trading days following a heavily oversubscribed initial public offering, reflecting a desire among investors to grab a piece of what is viewed as an exciting new way to play ChinaÆs rise within the global economy.
The first Chinese education company to list on the New York Stock Exchange, New Oriental raised $112.5 million after pricing its 7.5 million American depositary shares at $15 apiece û well above the $11...
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