第一时间get全球最新科技知识与数据
下载钛媒体客户端

扫描下载App

China's online education company Koolearn files for Hong Kong IPO

摘要: New Oriental Education & Technology owns a 66.7% stake in Koolearn as the largest shareholder.

It is unveiled by Hong Kong Stock Exchange that Koolearn, the online education arm of New Oriental Education & Technology Group Inc., has filed for IPO on July 17.

The prospectus shows Koolearn realized operating revenue of RMB 334 million and net profit of RMB 59.55 million in FY2016, and realized operating revenue of RMB 446 million and net profit of RMB 92.21 million in FY2017. Koolearn has realized operating revenue of RMB 485 million and net profit of RMB 80.77 million in the first nine months of FY2018 until Febuary 28. (Koolearn's fiscal year begins on June 1 and ends on May 31 next year.)

Koolearn is the largest online education brand in Chinese college-exam preparation market, and holds an 8.2% market share in 2017 by revenue, according to Frost & Sullivan.

Established by New Oriental in 2005, Koolearn offers college tutoring, K-12 education and online preschool tutoring programs.

Koolearn focused on college-tutoring programs including college-exam preparation, oversea exam preparation and English learning at the beginning after it launched online. For the nine months ended February 28, 2018, it had 852,000 students enrolled in its college-tutoring programs, or 59.1% of its total student enrollments.

Since established, Koolearn has raised a total of USD 164 million in three financing rounds. Tencent invested USD 50.87 million in its Series A financing round while Dragon Cloud and ChinaCity Capital backed its Series B round at USD 73.45 million and USD 19.24 million respectively. Tigerstep, an investment company owned by Yu Minhong, funded a further USD 20.66 million in its Series C.

New Oriental Education & Technology owns a 66.7% stake in Koolearn as the largest shareholder; Image Frame, an affiliated company of Tencent, holds 12.06%; Tigerstep holds 1.85%.

--------------------------------------

Follow us now on Twitter @tmtpostenglish, Medium @TMTpost and Facebook @tmtpost)

The Chinese version article is published with authorization from the author @Li Chengcheng. The English version article is edited by @Yi LIU. Please note source and hyperlink when reproduce.

更多精彩内容,关注钛媒体微信号(ID:taimeiti),或者下载钛媒体App

本文系钛媒体原创,未经授权不得使用,如需获取转载授权,请点击这里
分享到:

第一时间获取TMT行业新鲜资讯和深度商业分析,请在微信公众账号中搜索「钛媒体」或者「taimeiti」,或用手机扫描左方二维码,即可获得钛媒体每日精华内容推送和最优搜索体验,并参与编辑活动。

tmtpost
tmtpost

Our official account in English/English Version of TMTpost.com

刘毅_YiLIU
刘毅_YiLIU

钛媒体国际版负责人,微信号: 13911703028,加好友请注明事由。Email: yiliu@tmtpost.com; Mobile: +86 13911703028 (WeChat)

评论(0

Oh! no

您是否确认要删除该条评论吗?

分享到微信朋友圈