China Liberal Education Holdings, which provides primary and secondary-level educational services in China, raised $8 million by offering 1.3 million shares at $6.
The company had previously filed its final 424B4 prospectus dated March 31, 2020, and plans to list on the Nasdaq under the symbol CLEU on May 8. At the IPO price, China Liberal Education commands a market cap of $38 million; because the company listed with an IPO market cap of less than $50 million, it will be excluded from Renaissance Capital's 2020 IPO stats.
China Liberal Education generated revenue of $5.2 million during the twelve months ended June 30, 2019.
Boustead Securities acted as lead manager on the deal.
