Ambow Education Holding, which provides education, test prep and IT career training services in China, announced terms for its IPO on Wednesday.
The Beijing, China-based company plans to raise $6 million by offering 1.5 million ADSs at a price range of $3.50 to $4.50. At the midpoint of the proposed range, Ambow Education Holding would command a fully diluted market value of $85 million and an enterprise value of $56 million.
Ambow Education Holding was founded in 2000 and booked $65 million in sales for the 12 months ended September 30, 2017. It plans to list on the NYSE American under the symbol AMBO. The Benchmark Company is the sole bookrunner on the deal. It is expected to price during the week of May 21, 2018.
