Four years after investing in Rise Education, private equity firm Bain Capital is looking to partially exit the investment as it kicks off a $154 million US initial public offering of the Chinese private education provider on Monday.
Initial terms show Bain is seeking an implied valuation of about $770 million on a pre-greenshoe basis for the private tutorial firm, or nearly six times its $130 million investment made in July 2013.
That eye-catching return underscores the rising demand for private tutoring as China’s middle class grows. In the stock market, demand for education stocks is equally high as most of them are reaching record levels of...
¬ Haymarket Media Limited. All rights reserved.
