New Oriental Education & Technology Group Prices Global Offering - Quick Facts

New Oriental Education & Technology Group Inc. (EDU) announced the pricing of the global offering of 8.51 million new common shares which comprises an International offering and a Hong Kong public offering. The final offer price for both the offering has been set at HK$1,190.00 per offer share. Based on the ratio of one common share of the company with par value of $0.01 each per NYSE-listed ADS, the offer price translates to approximately $153.45 per ADS. The company noted that, upon the secondary listing in Hong Kong, the Hong Kong-listed shares will be fully fungible with the ADSs listed on NYSE.

The gross proceeds to the company from the Global offering, before deducting underwriting fees and offering expenses, are expected to be approximately HK$10.13 billion if the over-allotment option is not exercised or approximately HK$11.65 billion if the over-allotment option is exercised in full.

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