Xueda Education Group, the largest provider of primary and secondary school tutoring services in China, announced terms for its IPO on Wednesday. The Beijing-based company plans to raise $111 million by offering 13.4 million ADSs at a price range of $7.25-$9.25; private equity firm Warburg Pincus will also invest an estimated $42 million in conjunction with the IPO. At the mid-point of the proposed range, Xueda Education Group will command a market value of $554 million. Xueda Education Group, which was founded in 2001 and booked $116 million in sales for the 12 months ended June 30, plans to list on the NYSE under the symbol XUE. Goldman Sachs (Asia) L.L.C. is the lead underwriter on the deal, which is expected to price during the week of November 1.
