QuantaSing Group, which provides online financial literacy and personal interest courses for adults in China, announced terms for its IPO on Friday.
The Beijing, China-based company plans to raise $41 million by offering 3.3 million ADSs at a price range of $11.50 to $13.50. Existing and new investors intend to purchase $15 million worth of ADSs in the offering (37% of the deal). At the midpoint of the proposed range, QuantaSing Group would command a fully diluted market value of $763 million.
As the largest online service provider in China's adult learning market for personal interest courses, QuantaSing Group offers courses in financial literacy and marketing services under various brands. In June 2022, the company launched its enterprise talent management services to provide enterprise customers with online talent assessment, training, and learning services for internal employee management. Its platform contains live streaming, pre-recordings, and intelligent study toolkits, among other features.
QuantaSing Group was founded in 2016 and booked $412 million in revenue for the 12 months ended September 30, 2022. It plans to list on the Nasdaq under the symbol QSG. Citi and CICC are the joint bookrunners on the deal. It is expected to price during the week of January 16, 2023.
