Puxin Limited (NEW) IPO Opens Flat, Trades Higher

Today's IPO for Puxin Limited (NYSE: NEW) opened for trading at $17 per ADS after pricing 7,200,000 at $17. Shares have continued higher to $18.16.

Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Barclays Capital Inc., Haitong International Securities Company Limited, and China International Capital Corporation Hong Kong Securities Limited are acting as joint bookrunners for the offering.

Puxin Limited (NYSE: NEW) ("Puxin" or the "Company") is a successful consolidator of the after-school education industry in China. Puxin has a strong acquisition and integration expertise to effectively improve education quality and operational performance of acquired schools. Puxin offers a full spectrum of K-12 and study-abroad tutoring programs designed to help students achieve academic excellence, as well as prepare for admission tests and applications for top schools, universities and graduate programs in China and other countries. The Company has developed a business model effectively combining strategic acquisitions and organic growth achieved through successful post-acquisition integration, which has differentiated the Company from other after-school education service providers in China.

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