OneSmart’s $179.3 million Initial Public Offering

King & Wood Mallesons (KWM) advised OneSmart Education Group Limited (OneSmart) on its successful listing on the New York Stock Exchange

OneSmart International Education Group Limited (NYSE: ONE), has priced its initial public offering of 16,300,000 American Depositary Shares (“ADSs”), each representing 40 Class A ordinary shares of the Company, at US$11.00 per ADS for a total offering size of US$179.3 million, assuming the underwriters do not exercise their option to purchase additional ADSs. The ADSs are expected to begin trading on the New York Stock Exchange (“NYSE”) on March 28, 2018 under the ticker symbol “ONE”.

The underwriters have been granted an option, exercisable within 30 days from the date of the final prospectus, to purchase up to 2,445,000 additional ADSs at US$11.00 per ADS.

Morgan Stanley & Co. International plc, Deutsche Bank Securities Inc., and UBS Securities LLC are acting as joint bookrunners for the offering.

OneSmart is the largest premium K-12 after-school education service provider in China in terms of revenue in 2016 and 2017, according to Frost & Sullivan. OneSmart has built a comprehensive K-12 after-school education platform that encompasses its acclaimed premium tutoring services, premium young children education services and language and culture programs. The company, led by Zhang Xi, Li Dong and Meng Xiaoqiang, in 2017 recorded $301 Million Revenues.

The cross-practice KWM team was led by partners Richard Nie (Picture), Zhao Xiaohong, Bill Ye and Wang Ningyuan in KWM Shanghai office, Steven Wang in KWM Shanghai / Shenzhen office and David Lam in KWM Hong Kong office.

Involved fees earner: Nie Weidong – King & Wood Mallesons; Zhao Xiaohong – King & Wood Mallesons; Wang Ningyuan – King & Wood Mallesons; Ye Yongqing – King & Wood Mallesons; Wang Xiaogang – King & Wood Mallesons; David Lam – King & Wood Mallesons;

Law Firms: King & Wood Mallesons;

Clients: OneSmart International Education Group Limited ;


Author: Michael Patrini