china everbright limited’s portfolio company hope education completes ipo listing on hkex
3 august 2018, china everbright limited (“everbright”, stock code: 165.hk) is pleased to announce that its portfolio company hope education group co., ltd (“hope education”), a leading domestic higher education group, is officially listed on the main board of hkex today with its stock code 1765.hk. after the listing, everbright, through its various controlled corporations, is deemed to be interested in approximately 12.79% shareholding of hope education (assuming the over-allotment option is not exercised).. this ipo project becomes another successful investment case of everbright.
the amount of shares offered of hope education’s ipo is 1.67 billion shares. the maximum offer amount is hkd3.20 billion. the issuer plans to use proceeds to acquire higher education schools and to establish new campuses for the acquired schools, construct new buildings for education purpose, and to repay bank loans and other borrowings. from left: huang zhongcai (hope education- joint company secretary),hu wenhua (hope education- lifetime employee),li tao (hope education- executive director),xu changjun (hope education- chairman,executive director),wang degen (west hope group- president, tequ group- chairman, hope education- non-executive director), chen yuxin(west hope group- chairman), wang huiwu (hope education- executivedirector, chief executive officer, president), gao hao(hope education- independent non-executive director), tang jianyuan (hope education- non-executive director), zhang mingao (china everbright limited- executive director and chief investment officer)、lu zhichao (china everbright limited- mezzanine fund managing director)
established in 2007, hope education built its first school in 2009. through nearly a decade of effort, hope education has developed a sophisticated and efficient centralized management model and has acquired outstanding capabilities of acquiring and establishing schools. nowadays hope education becomes the second largest private higher education group in china.
as of now, hope education owns and operates nine higher education schools located including three independent colleges, five junior colleges and one vocational college in sichuan, guizhou and shanxi. in addition, hope education also provides self-study examination services and adult education services. as of december 31 2017, the total number of students at our schools is around 86,000, including the provision of higher education services for around 73,000 students, and the provision of other education services for around 13,000 students.
hope education is jointly invested by everbright rmb mezzanine fund and everbright holdings qingdao investment. everbright rmb mezzanine fund is managed by cel huiling investment (shanghai) co., limited and targets relatively safe equity investments by making satisfactory return through comprehensive risk control. focusing on education and food industries, which are weak cyclical and have strong cash flows, sports and farming industries, which have huge potential of market integration, everbright rmb mezzanine fund is dedicated to provide customized investment and financial plans to chinese domestic companies have great growth potential.
everbright holdings qingdao investment, a direct investment platform of everbright, focuses on equity investments in education, healthcare, high-end equipment, smart manufacturing and various other sectors.
