Davis Polk advised the representatives of the underwriters on the initial public offering by RISE Education Cayman Ltd and certain selling shareholders of 12,650,000 American Depositary Shares, each representing two ordinary share of RISE, for total proceeds of $171 million, reflecting full exercise of the option granted by one selling shareholder to purchase up to an additional 1,650,000 ADSs. The ADSs are listed on NASDAQ under the symbol “REDU.”
RISE is a leader in China’s junior English Language Training market. It offers three flagship courses designed for students aged three to 18 and a number of complementary products to further enhance students’ learning experiences.
The Davis Polk corporate team included partner James C. Lin and registered foreign lawyer Xuelin (Steve) Wang. Counsel Alon Gurfinkel and associate Kelli A. Rivers provided tax advice. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the Hong Kong, London and New York offices.