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 to $13 indicated price range.
The high price, which valued the company at an adjusted 2007 PE of 22.1 times, was possible after the order book was more than 35 times covered even though bookrunners...
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