Lixiang Education Holding, which provides private primary and secondary education services in China, filed on Wednesday with the SEC to raise up to $30 million in an initial public offering.
Lixiang's private education services primarily include primary and middle school education, and it was one of the top ten private primary and secondary education institutes in Zhejiang Province by students enrolled on a monthly average basis for the 2019/2020 school year. As of September 1, 2019, Lixiang had 4,558 enrolled students and 322 teachers.
The Zhejiang, China-based company was founded in 2001 and booked $23 million in revenue for the 12 months ended June 30, 2020. It plans to list on the NYSE or the Nasdaq under the symbol LXEH. Lixiang Education Holding filed confidentially on June 18, 2020. AMTD Global Markets and Loop Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.
