IPOs

Chinese education technology group 17 Education & Technology files for a $100 million US IPO

17 Education & Technology Group, which provides K-12 education services in China, filed on Friday with the SEC to raise up to $100 million in an initial public offering.

17 Education & Technology's smart in-school classroom solution delivers data-driven teaching, learning, and assessment products to teachers, students, and parents across 70,000+ K-12 schools. The company covered approximately 56% of the primary schools, 60% of the middle schools, and 7% of the high schools using smart in-school classroom solutions in China in the 1H20.

The Beijing, China-based company was founded in 2012 and booked $151 million in revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol YQ. 17 Education & Technology Group filed confidentially on September 16, 2020. Goldman Sachs, Morgan Stanley and BofA Securities are the joint bookrunners on the deal. No pricing terms were disclosed.

The article Chinese education technology group 17 Education & Technology files for a $100 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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