China Unlimited

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AMBOY announces May 23rd IPO.

Ambow Education Holding (AMBO) plans to raise $6 million in an IPO on Wednesday, May 23rd, IPO Scoop reports. The company will be issuing 1,500,000 shares at a price of $3.50-$4.50 per share.

In the last 12 months, Ambow Education Holding generated $68.2 million in revenue and $7.1 million in net income. Ambow Education Holding has a market-cap of $167.8 million.

Benchmark acted as the underwriter for the IPO.

Ambow Education Holding provided the following description of their company for its IPO: “(Note: Prior to this offering, ADSs representing our Class A ordinary shares (each such ADS representing two Class A ordinary shares) traded in the Over the Counter Market in the U.S. under the symbol “AMBOY.”) Our business addresses three critical demands in China’s education market: the desire for students to be admitted into top secondary and post-secondary schools, the desire for graduates of those schools to obtain more attractive jobs, and the need for schools and corporate clients to optimizing their teaching and operating environment. We offer high quality, individualized services and products through our combined online and offline delivery model powered by our proprietary technologies and infrastructure. We have three business divisions, “Better Schools”, “Better Jobs” and “Others”, and four operating segments, which are K-12 schools, tutoring, career enhancement and others. Our K-12 schools and tutoring segments are within our Better Schools division and career enhancement segment is within our Better Jobs division. The segment of Others represents the intellectualized operational services provided, and is classified under the Others division. “.

Ambow Education Holding was founded in 2000 and has 2657 employees. The company is located at 12th Floor, Tower 1, Financial Street, Chang’an Center, Shijingshan District, Beijing 100043, People’s Republic of China and can be reached via phone at [phone] or on the web at www.ambow.com.