QuantaSing Group, which provides online financial literacy and personal interest courses for adults in China, raised $41 million by offering 3.3 million ADSs at $12.50, within the range of $11.50 to $13.50. The company was expected to price last week, but delayed its offering. Existing and new investors had indicated on $15 million worth of ADSs in the offering (37% of the deal).
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 plans to list on the Nasdaq under the symbol QSG. Citi and CICC acted as joint bookrunners on the deal.
