RYB Education, which is leading provider of early childhood education services in China, announced terms for its IPO on Wednesday. The company also added BNP Paribas as an underwriter in the filing.
The Beijing, China-based company plans to raise $133 million by offering 7.8 million ADSs (29% insider) at a price range of $16 to $18. At the midpoint of the proposed range, RYB Education would command a fully diluted market value of $536 million.
RYB Education was founded in 1998 and booked $124 million in sales for the 12 months ended June 30, 2017. It plans to list on the NYSE under the symbol RYB. Credit Suisse, Morgan Stanley, CIC and BNP Paribas are the joint bookrunners on the deal. It is expected to price during the week of September 25, 2017.
