Bright Scholar Education (BEDU) IPO Opens Modestly Higher

Today's IPO for Bright Scholar Education Holdings Limited (NYSE: BEDU) opened for trading at $11 after pricing 15,000,000 American Depositary Shares ("ADSs") at an offering price of $10.50 per ADS.

The Company has granted the underwriters a 30-day option to purchase up to an additional 2,250,000 ADSs.

Morgan Stanley & Co. International plc and Deutsche Bank Securities Inc. are acting as the representatives of the underwriters for this offering. China Merchants Securities (HK) Co., Ltd. and BNP Paribas Securities Corp. are acting as the co-managers for this offering.

Bright Scholar is the largest operator of international and bilingual K-12 schools in China*. The Company is dedicated to providing quality international education to Chinese students and equipping them with the critical academic foundation and skillsets necessary to succeed in the pursuit of higher education overseas. It also complements its international offerings with Chinese government-mandated curriculum for students who wish to maintain the option of pursuing higher education in China. As of February 28, 2017, Bright Scholar operated 51 schools covering the breadth of K-12 academic needs of its students across seven provinces in China. In the first half of the 2017 school year ended February 28, 2017, Bright Scholar had an average of 29,230 students enrolled at its schools.

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