JIADE, which provides support services to adult education institutions in China, filed on Wednesday with the SEC to raise up to $10 million in an initial public offering.
The Chengdu, China-based company plans to raise $10 million by offering 2.2 million shares at a price range of $4 to $5. At the midpoint of the proposed range, JIADE would command a market value of $110 million.
Through its PRC subsidiaries, JIADE provides comprehensive education support services to adult education institutions in China, which encompass teaching support services throughout the entire teaching cycle and related exam administration services. Its services are primarily offered through the Kebiao Technology Educational Administration Platform, which facilitates streamlined information and data management across the teaching cycle, from pre-enrollment to post-graduation.
JIADE booked $2 million in revenue for the 12 months ended September 30, 2023, and plans to list on the Nasdaq under the symbol JDZG. The company filed confidentially on August 3, 2023. WestPark Capital is the sole bookrunner on the deal.
