O’Melveny & Myers LLP represented Global Education & Technology Group Limited (NASDAQ: GEDU) in its US$77.0 million initial public offering of American depositary shares (ADSs) and listing on NASDAQ. Global Education sold 7,331,250 ADSs (including 956,250 ADSs sold pursuant to the full exercise of the underwriters’ over-allotment option) at US$10.50 per ADS, the high end of the range. Credit Suisse and BofA Merrill Lynch acted as joint bookrunners of the offering.
Global Education is the largest test preparation provider for IELTS and a leading provider of educational courses and related services in China. Under its “Global” brand, the Company also offers diversified services that span a student’s educational life cycle, including after-school courses, overseas study consulting, and professional certification test preparation. The company intends to use the proceeds from the offering to expand its operations in China and for working capital and general corporate purposes.
The O’Melveny team was led by partner David Roberts and counsel Tom Hall, both based in Beijing.
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