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MarketScreener Homepage  >  Equities  >  Nyse  >  New Oriental Education & Technology Group Inc.    EDU

NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC.

(EDU)
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New Oriental Seeks to Raise Up to US$1.54 Billion in Hong Kong Offering

10/28/2020 | 05:32am EST

New Oriental Education & Technology Group Inc. will seek to raise up to US$1.54 billion in a secondary listing of shares in Hong Kong, the latest in a line of U.S.-listed Chinese companies offering shares closer to home.

Beijing-based New Oriental said Wednesday that it plans to sell 8.51 million new shares at up to 1,399 Hong Kong dollars (US$180.52) a share. At that price, the company would raise up to HK$11.91 billion in the offering.

The company said it plans to use the proceeds from the offering to expand its business, make acquisitions and invest in technologies to enhance student learning, among other things. Credit Suisse, BofA Securities and UBS are the joint sponsors and joint global coordinators for the offering.

Listed on the New York Stock Exchange in 2006, New Oriental describes itself as the largest provider of private educational services in China, offering a range of educational programs, services and products such as K-12 after-school tutoring, test preparation, language training for adults, online education and pre-school education.

New Oriental's offering would follow a string of sizable stock sales in Hong Kong by big Chinese companies whose securities already trade in New York, including Alibaba Group Holding Ltd., JD.com Inc. and NetEase Inc.

Write to Singapore editors at singaporeeditors@dowjones.com

(END) Dow Jones Newswires

10-28-20 0631ET

Stocks mentioned in the article
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ALIBABA GROUP HOLDING LIMITED 2.44% 249.41 Delayed Quote.4.61%
CREDIT SUISSE GROUP AG -1.46% 12.17 Delayed Quote.8.33%
NETEASE, INC., 3.54% 108.89 Delayed Quote.9.72%
NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC. 0.91% 174.16 Delayed Quote.-7.00%
UBS GROUP AG -1.45% 13.22 Delayed Quote.7.58%
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More news
Financials (USD)
Sales 2021 4 232 M - -
Net income 2021 498 M - -
Net cash 2021 2 299 M - -
P/E ratio 2021 55,7x
Yield 2021 0,04%
Capitalization 29 406 M 29 406 M -
EV / Sales 2021 6,41x
EV / Sales 2022 4,60x
Nbr of Employees 69 438
Free-Float 99,4%
Chart NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC.
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New Oriental Education & Technology Group Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 29
Average target price 198,43 $
Last Close Price 172,81 $
Spread / Highest target 30,2%
Spread / Average Target 14,8%
Spread / Lowest Target 3,58%
EPS Revisions
Managers and Directors
NameTitle
Cheng Gang Zhou Chief Executive Officer & Director
Min Hong Yu Executive Chairman
Zhi Hui Yang Chief Financial Officer
Tung Jung Hsieh Director
Yan Hong Li Independent Director
Sector and Competitors