PE-backed Ambow Education opens on NYSE below target
Ambow Education Group – the Chinese education and career development service provider backed by Actis, CStar Investment, EdVenture, JAFCO Asia Technology Fund and Macquarie - has launched on the NYSE, raising a reported $107 million, coming in below its targeted $118 million.
Beijing-based Ambow closed its opening day at $9.25 a share, below its 7.5% from its IPO price of $10. Last month, AVCJ reported that Ambow would be allocating the IPO proceeds to grow its business organically...
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