Jianzhi Education Technology Group, which provides an online learning platform and educational content in China, announced terms for its IPO on Wednesday.
The Beijing, China-based company plans to raise $30 million by offering 5 million ADSs at a price range of $5 to $7. At the midpoint of the proposed range, Jianzhi Education Technology Group would command a market value of $363 million.
Jianzhi Education started its operations by providing educational content products and IT services to higher education institutions in China, and since then it has shifted its focus to providing digital educational content. As of December 31, 2021, the company's educational content library consisted of more than 30,000 online videos and video courses, which was offered to approximately 2,000 higher education institutions and more than 20 provincial, city, and county libraries in China.
Jianzhi Education Technology Group was founded in 2011, and booked $74 million in revenue for the 12 months ended December 31, 2021. It plans to list on the Nasdaq under the symbol JZ. AMTD Global Markets and Univest Securities are the joint bookrunners on the deal.
