According to PRNewswire, New Oriental(NYSE: EDU), one of China's leading providers of private educational services, announces today that the pricing of the global offering of 8,510,000 new common shares which comprises an International Offering and a Hong Kong Public Offering.
The final offer price for both the International Offering and the Hong Kong Public Offering has been set at HK$1,190.00 per share. Based on the ratio of one common share of the company with a par value of US$0.01 each per NYSE-listed American depositary share(ADS), the offer price translates to approximately US$153.45 per ADS (based on an exchange rate of HK$7.7548 to US$1.00).
Subject to approval from The Stock Exchange of Hong Kong Limited (the "SEHK"), the offer shares are expected to begin trading on the Main Board of the SEHK on November 9, 2020 under the stock code “9901”. The Global Offering is expected to close on the same day, subject to customary closing conditions.
For more information: New Oriental Announces Pricing of Global Offering
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