China Beststudy Education Completes IPO and Listing on the Hong Kong Stock Exchange

On December 27, 2018, China Beststudy Education Group (Beststudy Education) successfully listed on the Main Board of the Stock Exchange of Hong Kong, raising approximately HK$343.3 million—after deduction of listing expenses and assuming the over-allotment option is not exercised—from a global offering of 151,400,000 shares, assuming the over-allotment option is not exercised. Wilson Sonsini Goodrich & Rosati advised Beststudy Education in the global offering and listing.

Beststudy Education is the first company listed on the Stock Exchange of Hong Kong that focuses on providing tutoring services in mainland China and is the largest K-12 after-school education service provider in southern China and the fifth largest nationwide, as measured by total student enrollments and revenue in 2017, according to a report published by Frost & Sullivan.

The WSGR team was led by partners Dan Ouyang and KJ Tan and included counsel Winfield Lau; associate Howard Wang; special associates Baker Chen and Erwin Qin; and legal consultant Claire Chen.