First High-School Education Group (FHS) IPO Opens Lower

Today's IPO for IPO for First High-School Education Group Co., Ltd. (NYSE: FHS), the largest operator of private high schools in Western China and the third-largest operator in China, opened for trading at $9.50 after the company priced 7,500,000 American Depositary Shares (ADSs) at an offering price of US$10.00 per ADS.

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.

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