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JunHe Assisted Scholar Education Group in its Listing on the HKEx Mainboard

2019.07.05

On June 21st 2019, Scholar Education Group (stock code: 1769.HK) was listed on the HKEx mainboard. Scholar Education Group issued 124.9 million shares, the issuing price was HKD 3.69 per share and raised money to the total amount of HKD 460 million.

 

Scholar Education Group conduct K-12 education businesses and are the shareholders of some companies and non-enterprise entities in China. According to the public offering files, Scholar Education Group was ranked 4th among the K-12 educational services vendors in Guangdong in 2018 and the 2nd K-12 after-school educational services vendor in Shenzhen. Based in Shenzhen, Scholar has developed its business to include Guangdong-Hong Kong-Macao Greater Bay Area and the Fujian Province, and now, operates 61 educational centers in Guangdong and Fujian.

 

JunHe acted as PRC legal counsel for the exclusive sponsor of the project. JunHe assisted in the domestic restructure and due diligence on the subsidiaries and affiliated schools, participated in the government interviews on major issues, drafting, reviewing and modifying the application and issuance files related to the listing, conducted PRC legal opinions and coped with feedback from the HKSFC and HKEx. Finally, Scholar Education Group was successfully listed on the HKEx mainboard.

 

JunHe assisted China Growth Capital (a subsidiary of China Resource Group) in its Pre-IPO offshore equity investment to Scholar Education Group and China Growth Capital is the exclusive financial investor for the listing of Scholar Education Group

 

The execution of the project is at the reforming stage of the Chinese non-governmental education industry, the enactments and practices ofand complementary regulations are distinct among the administrative regions, which added difficulties to the project as well. The JunHe team’s consistent professional, efficient and practical legal services were highly recommended by the issuer, exclusive sponsor and other intermediaries.

 

The leading partners for the project were ZHAO, Xiyong (Sammuel) and WANG, Man (Shelley)


JunHe is the only Chinese law firm to be admitted as a member of Lex Mundi and Multilaw, two international networks of independent law firms. JunHe and selected top law firms in major European and Asian jurisdictions are “best friends.” Through these connections, we provide high quality legal services to clients doing business throughout the world.