Rise Education Cayman Ltd (NASDAQ:REDU)

WEB NEWS

Friday, October 20, 2017

Research

Chinese company IPO - $REDU ($14.50) is a company that focuses on English language training business in China. We believe the stock will start trading on the NASDAQ today. The company’s IPO is priced at $14.50 per ADS, above the range of $12.00 to $14.00 initially suggested. It is offering 11 million ADSs in total, among which 5 million are newly issued by the company and another 6 million are offered by its existing sole shareholder. After the IPO, there will be 55 million ADSs in total with an implied market cap of $798 million. The company’s net income for the first half of 2017 was $8.7 million, with annualized net income in 2017 of $17.7 million and implied P/E of 45.



Market Data powered by QuoteMedia. Terms of Use