On March 11, 2021, First High-School Education Group Co., Ltd. announced the pricing of its initial public offering of 7,500,000 American depositary shares (ADSs) at a price to the public of US$10.00 per ADS, for a total offering size of US$75.0 million (or US$86.25 million if the underwriters exercise their option to purchase additional ADSs in full). The ADSs began trading on the New York Stock Exchange on March 11 under the symbol "FHS." Wilson Sonsini Goodrich & Rosati acted as U.S. counsel to First High-School Education Group in the offering.
First High-School Education Group is the largest operator of private high schools in Western China and the third-largest operator in China. It operated a network of 19 schools, offering 14 high school programs, seven middle school programs, and four tutorial school programs for Gaokao repeaters, as of September 30, 2020. All of its schools are strategically located in Western China. First High-School Education Group aspires to become a leader and innovator of private high school education in China.
The Wilson Sonsini team representing First High-School Education Group in the offering includes the following attorneys:
Corporate:
Dan Ouyang, Partner
Ke Li, Counsel
Yu Ma, Associate
Vincent Wang, Legal Consultant
Tax:
Myra Sutanto Shen, Partner