Raffles Education’s Oriental University to launch IPO in Hong Kong

It’s expected to raise $20.8m.

Raffles Education’s Oriental University City Holdings yesterday revealed that it is aiming to raise up to $20.8m (HKD120.6m) through an IPO in Hong Kong.

Oriental University City principally owns and leases out education facilities, primarily teaching buildings and dormitories, to education institutions in the PRC. It also leases out various supporting facilities to its tenants in the PRC.

The Group’s placing will initially comprise of a total of 45 million shares, which will be priced in the range of HK$2.60 to HK$2.68 per share.

Shares will be traded in board lots of 1,000 shares each. The placing began on Wednesday, 7 January, while dealings are expected to commence on Friday, 16 January.

BNP Paribas Securities is the sole sponsor, bookrunner and lead manager of the placing.