FOSHAN, China, Feb. 27, 2018 /PRNewswire/ -- Bright Scholar
Education Holdings Limited ("Bright Scholar" or the "Company")
(NYSE: BEDU), the largest operator of international and bilingual
K-12 schools in China*, today
announced that the previously announced registered follow-on public
offering of American depositary shares ("ADSs") by the Company was
priced at US$19.00 per ADS. The
Company will issue and sell 10,000,000 ADSs, each representing one
Class A ordinary share of the Company. The Company has granted the
underwriters a 30-day option to purchase up to an aggregate of
1,500,000 additional ADSs. The gross proceeds to the Company will
be US$190.0 million, assuming the
option to purchase additional ADSs is not exercised.
_____________
* In terms of student
enrollment as of September 1, 2017, according to an industry report
commissioned by Bright Scholar and prepared by Frost & Sullivan
in 2017.
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Deutsche Bank Securities Inc. ("Deutsche Bank") and Goldman
Sachs (Asia) L.L.C. ("Goldman
Sachs") acted as the bookrunners for the offering.
A registration statement relating to these securities was
declared effective by the U.S. Securities and Exchange Commission
(the "SEC") on February 27, 2018.
This announcement shall not constitute an offer to sell, or a
solicitation of an offer to buy, the securities described herein,
nor shall there be any offer, solicitation or sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
This offering is being made only by means of a written
prospectus forming a part of the effective registration statement.
A copy of the prospectus related to this offering may be obtained
by visiting the SEC's website at www.sec.gov or by contacting
Deutsche Bank, Attention: Prospectus Group, 60 Wall Street,
New York, NY 10005,
United States (telephone:
800-503-4611; email: prospectus.CPDG@db.com), or Goldman Sachs,
Attention: Prospectus Department, 200 West Street, New York, NY 10282, United States (telephone: +1 (212) 902-1171;
e-mail: prospectus-ny@ny.email.gs.com).
About Bright Scholar Education Holdings
Limited
Bright Scholar is the largest operator of international and
bilingual K-12 schools in China*.
The Company is dedicated to providing quality international
education to Chinese students and equipping them with the critical
academic foundation and skillsets necessary to succeed in the
pursuit of higher education overseas. It also complements its
international offerings with Chinese government-mandated curriculum
for students who wish to maintain the option of pursuing higher
education in China. As of
January 31, 2018, Bright Scholar
operated 62 schools covering the breadth of K-12 academic needs of
its students across eight provinces in China. In the first three months of the 2018
school year ended November 30, 2017,
Bright Scholar had an average of 33,916 students enrolled at its
schools.
____________
* In terms of student
enrollment as of September 1, 2017, according to an industry report
commissioned by Bright Scholar and prepared by Frost & Sullivan
in 2017.
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Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements include,
without limitation, the Company's ability to complete the offering
on acceptable terms, which can be identified by terminology such as
"may," "will," "expect," "anticipate," "aim," "estimate," "intend,"
"plan," "believe," "potential," "continue," "is/are likely to" or
other similar expressions. Such statements are based upon
management's current expectations and current market and operating
conditions, and relate to events that involve known or unknown
risks, uncertainties and other factors, all of which are difficult
to predict and many of which are beyond the Company's control.
Further information regarding these and other risks, uncertainties
or factors is included in the Company's filings with the U.S.
Securities and Exchange Commission. The Company does not undertake
any obligation to update any forward-looking statement as a result
of new information, future events or otherwise, except as required
under law.
IR Contact:
FleishmanHillard
Email:
BrightScholar.ir@fleishman.com
Phone: +852 2586 7825
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SOURCE Bright Scholar Education Holdings Ltd.