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Tutoring giant New Oriental surges on Hong Kong market debut

2020-11-10 12:30

 

Yu Minhong, New Oriental's executive chairman, addresses a ceremony celebrating the company's listing on the Hong Kong stock market in Beijing, capital of China, Nov. 9, 2020. New Oriental Education & Technology Group, a Chinese tutoring, test preparation and private school operator, surged on its Hong Kong market debut on Monday, and became the first stock of over 1,000 Hong Kong dollars on the market. TO GO WITH "Tutoring giant New Oriental surges on Hong Kong market debut" (Xinhua)

HONG KONG, Nov. 9 (Xinhua) -- New Oriental Education & Technology Group, a Chinese tutoring, test preparation and private school operator, surged on its Hong Kong market debut on Monday, and became the first stock of over 1,000 Hong Kong dollars on the market.

Shares of New Oriental opened at 1,381 Hong Kong dollars (about 178 U.S. dollars) Monday morning, up significantly from its offer price of 1,190 Hong Kong dollars.

Its public offering was oversubscribed 1.55 times by local investors and about 6.4 times by international buyers. The net proceeds from the global offering are estimated at 9.97 billion Hong Kong dollars (assuming that the over-allotment is not exercised); If the over-allotment is fully exercised, the company will receive additional net proceeds of about 1.51 billion Hong Kong dollars.

Since New Oriental's listing on the New York Stock Exchange on Sept. 7, 2006, its American depositary shares (one ADS represents one ordinary share) have been traded on the New York Stock Exchange. Upon completion of its second listing in Hong Kong, New Oriental's shares in Hong Kong and its ADS will be fully convertible.

Looking ahead, New Oriental will continue to develop online and offline integration systems to provide students with high-quality teaching systems and more perfect classrooms, said Yu Minhong, New Oriental's executive chairman.

According to its prospectus, New Oriental was established in 1993 and listed on the New York Stock Exchange in 2006. It is the largest private education service provider in China. As of May 31, 2020, New Oriental has set up 104 schools, 1,361 learning centers and 12 bookstores in 91 cities across the country.

 

2020年11月9日,新东方在北京举行了香港上市仪式,新东方执行主席俞敏洪在仪式上致辞。中国辅导、备考和私立学校运营商新东方教育科技集团(New Oriental Education & Technology Group)周一在香港上市首日大涨,成为市场上第一只股价超过1000港元的股票。为配合“辅导新东方巨富香港上市”(新华社)


香港,11月9日(新华社)——中国辅导、备考和私立学校运营商新东方教育科技集团周一在香港上市首日大涨,成为市场上第一只股价超过1000港元的股票。


新东方的股票周一上午开盘价为1,381港元(约合178美元),大大高于其1,190港元的发行价。


该公司的公开发行(ipo)获得了当地投资者1.55倍的超额认购,国际买家的超额认购约为6.4倍。全球发售的净收益估计为99.7亿港元(假设超额配售未获行使);如全部行使超额配售权,公司将获得约15.1亿港元的额外净收入。


新东方自2006年9月7日在纽约证券交易所上市以来,其美国存托股票(一股ADS代表一股普通股)一直在纽约证券交易所交易。在完成在香港的第二次上市后,新东方在香港的股票和广告将完全可转换。


新东方执行主席俞敏洪表示,展望未来,新东方将继续发展线上和线下的整合系统,为学生提供高质量的教学体系和更完善的课堂。


根据其招股说明书,新东方成立于1993年,2006年在纽约证券交易所上市。它是中国最大的私立教育服务提供商。截至2020年5月31日,新东方在全国91个城市建立了104所学校、1361个学习中心和12家书店。

 

来自: xinhua