Sunlands Online Education Group (STG) plans to raise $162 million in an initial public offering on Friday, March 23rd, IPO Scoop reports. The company will be issuing 13,000,000 shares at $11.50-$13.50 per share.
In the last twelve months, Sunlands Online Education Group generated $149.1 million in revenue and had a net loss of $141.2 million. The company has a market-cap of $903.6 million.
Goldman Sachs (Asia), J.P. Morgan and Credit Suisse acted as the underwriters for the IPO and CLSA was co-manager.
Sunlands Online Education Group provided the following description of their company for its IPO: ” We are the leader in China’s online post-secondary and professional education in terms of gross billings in 2017, according to iResearch. We have a deep understanding of the educational needs of our prospective students and offer solutions that help them achieve their goals. We offer various degree- and diploma-oriented post-secondary courses through our online platforms. In addition, we offer online professional courses and educational content to help students prepare for professional certification exams and attain professional skills. “.
Sunlands Online Education Group was founded in 2003 and has 9146 employees. The company is located at Building 4-6, Chaolai Science Park, No. 36 Chuangyuan Road, Chaoyang District, Beijing, the People’s Republic of China and can be reached via phone at +86-10-52413738. or on the web at http://www.sunlands.com.
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