Shenzhen clears the curbs on preschool IPOs
The Shenzhen government recently issued Regulations on preschool education, which will come into force on September 1, 2022.
The "Regulations" clarify that public kindergartens shall not be transformed into private kindergartens and are not allowed to run or participate in private kindergartens and other educational institutions.
At the same time, private kindergartens will be not allowed to raise funds through share sales by themselves or as part of asset packages. Moreover, capitals shall not participate in running or controlling public kindergartens and non-profit private kindergartens through mergers and acquisitions, entrusted operation, franchises and chains, variable interest entities and agreements, etc.
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