Going to Launch HongKong IPO? New Oriental and TAL Respond.
2020-06-09 16:56:52

According to Thomson Reuters' International Financial Review, New Oriental Education &Technology Group Inc. (EDU) and Tomorrow Advancing Life (TAL) are considering a secondary listing in Hong Kong. As of today, the two education giants respond that they have no plan at the current stage.

Since Alibaba Group's successful secondary listing on the Hong Kong Stock Exchange in November 2019, speculation about Chinese ADRs for such movement has always been going on. This January, it was reported that many technology companies such as NetEase(NTES), Baidu Inc (BIDU), and Trip.com(TCOM), which have already listed in the Nasdaq Stock Market, were seeking secondary listings in Hong Kong.

As of now, NetEase and JD.com have announced the initial Hong Kong Public Offering launch. According to data from the Securities Times, there are currently 240 Chinese ADRs trading on the US stock markets. According to the listing rules and guidance revised by the Hong Kong Stock Exchange at the end of April 2018, 21 of these 240 companies are eligible for a secondary listing in Hong Kong. Qualified education companies include TAL, New Oriental, and the leading online education company GSX.

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