China New Higher Education IPO: lucky No. 6?

University operator hopes its Hong Kong listing will be propelled by strong secondary market momentum towards the burgeoning private education sector.

China New Higher Education CNHE has formally launched Hong Kong's sixth initial public offering from the mainland's private education sector, with hopes of raising proceeds of up to HK$1.059 billion $137 million after the greenshoe.

Six is considered a lucky number in Mandarin and the Yunnan and Guizhou-based group looks set to benefit from the groundwork laid by its five predecessors as growing investor awareness pushes valuations higher in the sector. 

So far this year, there have already been three IPO's by Chinese private education groups, making them the most active listing category by sector type.

The trio have also...

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