Zhangmen Education (ZME) IPO Opens 42% Higher

Today's IPO for Zhangmen Education Inc. (NYSE: ZME) opened for trading at $16.30 after pricing 3,623,000 American Depositary Shares ("ADSs"), at US$11.50 per ADS.

Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC are acting as active joint bookrunners and representatives of the underwriters for the offering. Citigroup Global Markets Inc., China International Capital Corporation Hong Kong Securities Limited and Macquarie Capital (USA) Inc. are acting as joint bookrunners for this offering. Futu Inc., Tiger Brokers (NZ) Limited and SNB Finance Holdings Limited are acting as co-managers for this offering.

Zhangmen Education Inc. (NYSE: ZME) is a leading online education company in China focused on providing personalized online courses to K-12 students. The Company's core course offerings encompass one-on-one and small-class after-school tutoring services covering all core K-12 academic subjects, with an established portfolio of well-recognized online education brands including Zhangmen one-on-one, Zhangmen Small Class, Zhangmen Kids and Xiaoli. Leveraging its high-quality teaching talents with localized insights, data-driven localized educational content and powerful technology infrastructure, the Company provides a personalized and results-driven learning experience to students across different regions. Over the years, the Company has successfully garnered wide recognition in the industry and established "Zhangmen" as a trusted online education brand.

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