New Oriental Launches Hong Kong Initial Public Offering
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, subject to re-allocation and over-allotment option.
- 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, subject to re-allocation and over-allotment option.
- Subject to the level of any oversubscription in the Hong Kong Public Offering and pursuant to the clawback mechanism as described in the prospectus issued in Hong Kong, the total number of shares available under the Hong Kong Public Offering could be adjusted to up to a maximum of 2,042,400 new Shares, representing 24.0% of the Offer Shares initially available under the Offering.
- The offer price for the Hong Kong Public Offering (the "Hong Kong Offer Price") will be not more than HK$1,399.00 per Share (the "Maximum Offer Price").
- The Hong Kong Public Offering will commence at 9:00 a.m. on Thursday, October 29, 2020 Hong Kong time and will close at 12:00 noon on Tuesday, November 3, 2020 Hong Kong time.