The SoftBank-backed online tutoring course provider has floated in a $41.7m offering that comes in the wake of some $1.1bn in venture funding.
Zhangmen Education, a China-based after-school tutoring provider backed by internet and telecommunications group SoftBank, has raised $41.7m in an initial public offering on the New York Stock Exchange.
The company priced 3.6 million American depositary shares, each representing nine ordinary shares, at $11.50 each, towards the lower end of the offering’s $11 to $13 range. They closed at $16.65 on the first day of trading on Tuesday.
Founded in 2005, Zhangmen provides access to online tutoring courses for students in…
