CDH-backed Xueda debuts on NYSE, raising $127 million
Xueda Education Group, a Beijing-based tutoring company invested by CDH Investments, raised $127.6 million in its IPO on the New York Stock Exchange.
Leading PRC PE firm CDH invested $10 million in Xueda in October 2007. The company offered 13,430,000 American Deposit Receipts (ADRs) for $9.5 a share, equivalent to $127.6 million. Xueda has granted the underwriters a 30-day over-allotment option to purchase up to just over 2 million additional ADSs, according to its press release. Goldman Sachs (Asia) acted as the sole global coordinator and sole bookrunner, while Robert W. Baird & Co. and William Blair & Company, acted as co-managers for the offering.
Xueda’s shares reached as high as $14.7 and closed at $12.5 yesterday. Xueda has 157 learning centers in 44 Chinese cities, and tutored around 54,000 primary and secondary school students in the first half of this year.
Further reading
More on Exits
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.