Four Seasons Education, a Chinese provider of after-school math tutoring services, announced terms for its IPO on Friday.
The Shanghai, China-based company plans to raise $101 million by offering 10.1 million shares (9% insider) at a price range of $9 to $11. At the midpoint of the proposed range, Four Seasons Education would command a fully diluted market value of $524 million.
Four Seasons Education was founded in 2007 and booked $38 million in sales for the 12 months ended August 31, 2017. It plans to list on the NYSE under the symbol FEDU. Morgan Stanley, Citi and China Renaissance are the joint bookrunners on the deal. It is expected to price during the week of November 6, 2017.
