HONG KONG: Vocational training company China East Education Holdings Ltd plans to raise up to HK$5.34bil (US$680mil) in Hong Kong, according to a term sheet seen by Reuters, in what would be the world’s largest education initial public offering.
The company based in Hefei, a provincial capital in eastern China, started book-building of its Hong Kong float yesterday. It is selling 435.8 million primary shares, or 20% of its enlarged share capital, in an indicative range of HK$9.8 to HK$12.26, the term sheet showed.
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