RTTNews | Oct 28, 2020 04:34AM EDT

04:33 Wednesday, October 28, 2020 (RTTNews.com) - New Oriental Education & Technology Group Inc. (EDU) announced the launch of its Hong Kong Public Offering, which forms part of the Global Offering of 8.51 million new common shares. Upon listing, the Hong Kong-listed shares will be fully fungible with the ADSs listed on NYSE. The offer price for the Hong Kong Public Offering will be not more than HK$1,399.00 per share.

The offering initially comprises 510,600 new shares under the Hong Kong Public Offering and 7,999,400 new shares for the International Offering, representing approximately 6.0% and 94.0% of the total number of shares in the offering, respectively.

The company plans to use the proceeds for investments in technologies to enhance students' learning experience, business growth and geographic expansion, strategic investments and acquisitions, and general corporate purposes and working capital needs.

Read the original article on RTTNews ( https://www.rttnews.com/3139898/new-oriental-education-technology-group-launches-hong-kong-public-offering.aspx)

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