China Xinhua Education is set to become the seventh mainland private school operator to list in Hong Kong, as the Hefei-headquartered company started bookbuilding for an initial public offering to raise as much as HK$1.5 billion $188 million on Monday.
While reviving a streak of Chinese education IPOs from early last year, Xinhua Education will also enjoy first mover advantage over a number of school operators that are expected to list later this year.
Besides Xinhua, five education companies have already applied to list in Hong Kong. They are China 21st Century Education, China Chunlai Education, Tianli Education, Bojun Education and Top...
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