Shares of Nord Anglia Education rise in market debut

March 26 Wed Mar 26, 2014 9:44am EDT

March 26 (Reuters) - Shares of Nord Anglia Education Inc rose as much as 12 percent in their U.S. market debut, valuing the Hong Kong-based school operator at about $1.7 billion.

Nord Anglia raised about $304 million after its initial public offering was priced at $16 per share, the mid point of its pricing range.

The company - which runs 27 schools in Southeast Asia, China, Europe, North America and the Middle East - sold all the 19 million shares in the offering.

Nord Anglia's shares opened at $17.50 and touched a high of $17.84 on the New York Stock Exchange on Wednesday.

Baring Asia Private Equity bought Nord Anglia for $360 million in 2008 and helped the company enter the United States when it bought WCL Group for $237 million in May.

Credit Suisse, Goldman Sachs and JP Morgan were lead underwriters to the offering. (Reporting By Neha Dimri in Bangalore; Editing by Savio D'Souza)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article