Noah Education Sets Terms for NYSE IPO
Filed in archive IPOs on October 14, 2007
China education firm Noah Education Holdings Ltd. has set the terms for its upcoming NYSE IPO, according to the Associated Press.
According to the AP, "Noah Education is selling 8.7 million ADS and a shareholder, Baring Asia II Holdings, is offering the remaining 1.1 million ADS. Each ADS will represent one ordinary share."
Noah Education hopes to raise about $84 million through the IPO. The company expects the IPO shares to go for between $9.80 and $11.80 per ADS.
Noah Education provides interactive multimedia education content to accompany Chinese textbooks on a broad range of subjects. Their products come in a hand held device that students use.
Funds raised through the IPO will be used for expansion, sales and marketing, and research and development. Noah Education said it has been approved to list its ADS shares on the New York Stock Exchange under the symbol "NED" .
Blogger Tom Taulli points out that some of the hottest China stocks in the last few years have been education stocks. He thinks Noah Education will be a good investment.
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