OneSmart International Education Group, which provides K-12 after-school education in China, announced terms for its IPO on Friday.
The Shanghai, China-based company plans to raise $196 million by offering 16.3 million ADSs at a price range of $11 to $13. At the midpoint of the proposed range, OneSmart Education would command a fully diluted market value of $2.0 billion.
OneSmart International Education Group was founded in 2007 and booked $342 million in sales for the 12 months ended November 30, 2017. It plans to list on the NYSE under the symbol ONE. Morgan Stanley, Deutsche Bank and UBS Investment Bank are the joint bookrunners on the deal. It is expected to price during the week of March 26, 2018.
