Bright Scholar Education Holdings, the largest operator of international and bilingual schools in China, announced terms for its IPO on Friday.
The Beijiao Town, China-based company plans to raise $135 million by offering 15 million ADSs at a price range of $8 to $10. At the midpoint of the proposed range, Bright Scholar Education Holdings would command a market value of $1.0 billion.
Bright Scholar Education was founded in 1994 and booked $172 million in sales for the 12 months ended February 28, 2017. It plans to list on the NYSE under the symbol BEDU. Morgan Stanley and Deutsche Bank are the joint bookrunners on the deal. It is has not yet disclosed a pricing date.
