Bright Scholar Announces Pricing of Initial Public Offering

On May 18, 2017, Bright Scholar Education Holdings Limited announced the pricing of its initial public offering of 15,000,000 American Depositary Shares (ADSs) at an offering price of $10.50 per ADS for a total offering size of approximately $157.5 million (approximately $181.1 million if the underwriters fully exercise their over-allotment option to purchase 2,250,000 additional ADSs). The ADSs began trading on the New York Stock Exchange on May 18, 2017, under the ticker symbol "BEDU." Wilson Sonsini Goodrich & Rosati is representing Bright Scholar in the offering.

The company has granted the underwriters a 30-day option to purchase up to 2,250,000 additional ADSs. Morgan Stanley & Co. International and Deutsche Bank Securities are acting as the representatives of the underwriters in the offering, while China Merchants Securities (HK) Co. and BNP Paribas Securities are acting as the co-managers.

Bright Scholar is the largest operator of international and bilingual K-12 schools in China in terms of student enrollment as of September 1, 2016, according to an industry report commissioned by Bright Scholar and prepared by Frost & Sullivan in 2017.

The WSGR team representing Bright Scholar in the offering includes:

Corporate:
Weiheng Chen, Partner
Dan Ouyang, Partner
Ke Li, Associate
Winfield Lau, Associate
Nian Liu, Associate
Katherine Wang, Special Associate
Qin Zou, PRC Legal Consultant
Nancy Lan, PRC Legal Consultant

Tax:
Jonathan Zhu, Partner
Myra Sutanto Shen, Partner

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