First High-School Education Group, which operates private high schools and provides tutoring services in China, raised $75 million by offering 7.5 million ADSs (33% secondary) at $10, within the range of $9.50 to $10.50. The company planned to raise an additional $4.5 million in a concurrent private placement to Ruihai Chuangfeng, a wholly-owned subsidiary of Haier Financial Leasing. At pricing, First High-School Education Group commands a market value of $289 million.
First High-School Education Group plans to list on the NYSE under the symbol FHS. The Benchmark Company, Valuable Capital, and TF International acted as lead managers on the deal.
