Bright Scholar Announces Pricing of Follow-on Public Offering

On February 28, 2018, Bright Scholar Education Holdings Limited announced the pricing of its follow-on public offering of 10,000,000 American Depositary Shares (ADSs) at an offering price of $19.00 per ADS for a total offering size of approximately $190 million (approximately $218.5 million if the underwriters fully exercise their over-allotment option to purchase 1,500,000 additional ADSs). Wilson Sonsini Goodrich & Rosati represented Bright Scholar in the offering.

The company granted the underwriters a 30-day option to purchase up to 1,500,000 additional ADSs. Deutsche Bank Securities and Goldman Sachs (Asia) acted as the representatives of the underwriters in the offering.

Bright Scholar is the largest operator of international and bilingual K-12 schools in China in terms of student enrollment as of September 1, 2017, according to an industry report commissioned by Bright Scholar and prepared by Frost & Sullivan in 2018.

The WSGR team that represented Bright Scholar in the offering included:

Corporate:
Weiheng Chen, Partner
Dan Ouyang, Partner
Ke Li, Associate
Qin Zou, Special Associate
Yuhang Li, Special Associate

Tax:
Myra Sutanto Shen, Partner

For more information, please see Bright Scholar's press release.