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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