Ambow Education Holding, which provides online and offline tutoring, test prep and career enhancement services in China, announced terms for its IPO on Tuesday. The Beijing-based company plans to raise $117 million by offering 10.7 million shares at a price range of $10-$12. At the mid-point of the proposed range, Ambow Education Holding will command a market value of $844 million. Ambow Education Holding, which was founded in 2000 and booked $146 million in sales for the 12 months ended March 31, plans to list on the NYSE under the symbol AMBO. J.P. Morgan and Goldman Sachs (Asia) L.L.C. are the lead underwriters on the deal, which is expected to price during the week of August 2.
