CFCG Serves as a Joint Bookrunner and a Joint Lead Manager for the IPO of Yuhua Education


First Capital Securities Limited (“First Capital Securities”), a wholly-owned subsidiary of China First Capital Group Limited (“CFCG” or the “Group”; stock code: 1269), has served as a joint Bookrunner and a joint Lead Manager of China Yuhua Education Corporation Limited (“Yuhua Education”; stock code: 6169), for its initial public offering which debuted today.

Yuhua Education has offered a total of 750,000,000 shares under the Global Offering, which comprises 75,000,000 shares for the Hong Kong Public Offer and 675,000,000 shares for the International Offering. With the offer price ranging between HK$1.98 and HK$2.54. The estimated proceeds from the Global Offering is to reach approximately HK$1.9 billion. The Hong Kong Public Offer has commenced on 16 February 2017 and will end on 21 February 2017. Dealing of the shares will begin on the Main Board of the Stock Exchange of Hong Kong on 28 February 2017. CITIC CLSA Capital Markets Limited is the Sole Sponsor of the Global Offering, while CLSA Limited, Merrill Lynch Far East Limited, CCB International Capital Limited, First Capital Securities Limited and Orient Securities (Hong Kong) Limited have acted as the joint Bookrunners.

Yuhua Education is the largest provider of private education from kindergarten to university in China in terms of student enrolment during the 2015/2016 academic year. As at 31 August 2016, Yuhua Education had 25 schools, including one university and 24 K-12 schools, through which it offers private education with comprehensive educational programmes from kindergarten to university. All of Yuhua Education’s schools are located in Henan Province and the favourable demographics of the province have facilitated the growth of its school network.

Previously, First Capital Securities participated in the listing of Postal Savings Bank of China Co., Ltd. (stock code: 1658), Human Health Holdings Limited (stock code: 1419) and China Golden Classic Group Limited (stock code: 8281), serving as a joint Bookrunner and a joint Lead Manager.

Ms. Flora Wan, Chief Operating Officer of First Capital Securities, said, “Since the beginning of this year, the new listings in the Hong Kong stock market and the secondary securities market have been relatively active. First Capital Securities aims to seize the opportunities presented by the favourable national policies to the stock market in order to further expand the securities trading-related business, with the aim of providing financial support for CFCG’s education investment initiatives while offering investors diversified investment channels so they can capture more investment opportunities.”