KUNMING, China, March 19, 2021 /PRNewswire/ -- First High-School
Education Group Co., Ltd. ("First High-School Education Group" or
the "Company") (NYSE: FHS), the largest operator of private high
schools in Western China and the
third largest operator in China[1], today announced, on
March 15, 2021 the Company completed
the closing of its previously announced initial public offering of
7,500,000 American Depositary Shares (the "ADSs"), and the
concurrent sale of 1,350,000 Class A ordinary shares to the
investor in the concurrent private placement, at an offering price
of $10.00 per ADS. Each ADS
represents three Class A ordinary shares of the Company.
The initial public offering and the concurrent private placement
raised $79,500,000 in total, in which
$54,500,000 was raised by the
Company, and $25,000,000 was raised
by Longwater Topco B.V., the selling shareholder in the offering,
before deducting underwriting discounts and commissions as well as
other offering expenses.
The Benchmark Company LLC, Valuable Capital Limited and TFI
Securities and Futures Limited are acting as the joint bookrunners
of the offering and representatives of underwriters. AMTD Global
Markets Limited, Maxim Group LLC, Boustead Securities, LLC, Futu
Inc., US Tiger Securities, Inc., and Fosun Hani Securities Limited
are acting as Co-managers of the offering. FT Global Capital, Inc
is acting as advisor to the Company.
A registration statement relating to the shares being sold in
this offering was declared effective by the U.S. Securities and
Exchange Commission. The offering was made only by means of a
prospectus, copies of which may be obtained from: (i) Benchmark
Company LLC. at prospectus@benchmarkcompany.com; (ii) Valuable
Capital Limited at Room 2807-09, 28th Floor, China Merchants Tower,
Shun Tak Centre, 168-200 Connaught Road Central, Hong Kong / ecm.project@valuable.com.hk; and
(iii) TFI Securities and Futures Limited at Room 1108 – 1111, 11/F,
Nexxus Building, 41 Connaught Road Central, Central, Hong Kong / 852 3187 8701 /
ecm@tfisec.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
the registration or qualification under the securities laws of any
such state or other jurisdiction.
About First High-School Education Group
First High-School Education Group is the largest operator of
private high schools in Western
China and the third largest operator in China[2]. First
High-School Education Group has a network of 19 schools, offering
14 high school programs, seven middle school programs and four
tutorial school programs for Gaokao repeaters, as of September 30, 2020. All of schools of the Company
are strategically located in Western
China. The Company aspires to become a leader and innovator
of private high school education in China.
Forward-Looking Statements
Statements in this press release about future expectations,
plans and prospects, as well as any other statements regarding
matters that are not historical facts, may constitute
"forward-looking statements" within the meaning of The Private
Securities Litigation Reform Act of 1995. These statements include,
but are not limited to, statements relating to the expected trading
commencement and closing dates. The words "anticipate," "believe,"
"continue," "could," "estimate," "expect," "intend," "may," "plan,"
"potential," "predict," "project," "should," "target," "will,"
"would" and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. Actual results may
differ materially from those indicated by such forward-looking
statements as a result of various important factors, including: the
uncertainties related to market conditions and the completion of
the public offering on the anticipated terms or at all, and other
factors discussed in the "Risk Factors" section of the preliminary
prospectus filed with the SEC. Any forward-looking statements
contained in this press release speak only as of the date hereof,
and the Company specifically disclaims any obligation to update any
forward-looking statement, whether as a result of new information,
future events or otherwise.
For Investor and Media Inquiries Please Contact:
In China:
First High-School Education Group
Lillian Liu
Tel: +86-13062818313
E-mail: liuyi@longspringedu.com
The Blueshirt Group
Ms. Susie Wang
Phone: +86 138-1081-7475
Email: susie@blueshirtgroup.com
In the United States:
The Blueshirt Group
Ms. Julia Qian
Phone: +1 973-619-3227
Email: Julia@blueshirtgroup.com
[1] In terms of
student enrollment as of December 31, 2019, according to an
industry report commissioned by First High-School
Education Group and prepared by China Insights Industry Consultancy
Limited.
|
[2] In terms of
student enrollment as of December 31, 2019, according to an
industry report commissioned by First High-School
Education Group and prepared by China Insights Industry Consultancy
Limited.
|
View original
content:http://www.prnewswire.com/news-releases/first-high-school-education-group-announces-closing-of-initial-public-offering-and-concurrent-private-placement-301250909.html
SOURCE First High-School Education Group Co., Ltd