Liulishuo has listed on the New York Stock Exchange following a $71.9m initial public offering that provided an exit to publishing house Hearst.
Liulishuo, a China-based English-teaching platform backed by media group Hearst, has listed on the New York Stock Exchange after raising $71.9m in its initial public offering.
The company issued 5.75 million American Depositary Shares (ADSs) priced at $12.50 each, after initially filing to raise $100m last month. Its shares opened at $13.37 on Thursday but by yesterday’s close had dropped back down to $12.08.
Incorporated in 2012 as Laix, Liulishuo has developed an interactive English language learning course…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
