March 26 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
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