Gaorong-backed GSX Techedu loses ground after $208m US IPO
GSX Techedu, operator of Chinese online education platform Baijiahulian, raised $207.9 million in its US IPO, but a flat first day of trading was followed by a 4.6% decline on day two.
Gaorong Capital is the company’s principal venture capital backer with a 6% stake post-offering. GSX sold 19.8 million American Depository Shares (ADS) at $10.50 apiece, while granting underwriters the...
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