Feb 18 Nord Anglia Education Inc, a Hong
Kong-based school operator, filed with U.S. regulators on
Tuesday to raise up to $300 million in an initial public
offering of common stock.
Credit Suisse Securities (USA) LLC, Goldman Sachs & Co and
JP Morgan Securities LLC are lead underwriters to the offering,
the company said in a filing with the U.S Securities and
Exchange Commission. ()
Reuters reported in December that Nord Anglia had hired
banks for an IPO in 2014..
Nord Anglia was bought by Baring Asia Private Equity in
August 2008 for $360 million. Baring expanded Nord Anglia into
the United States with a $237 million purchase of WCL Group in
Nord Anglia, which runs 27 schools in Southeast Asia, China,
Europe, North America and the Middle East, reported revenue of
$415 million and a loss of $16 million for the year ended Aug.
31 on a pro forma basis.
The company is headed by 53-year-old Andrew Fitzmaurice, who
previously served as the chief executive of easyCar.com, an
online automobile rental company.
Founded in 1972 by former teacher Kevin McNeany, Nord
Anglia's schools target expatriates and local wealthy families.
The company intends to list its common stock on the New York
Stock Exchange under the symbol "NORD".
The amount of money a company says it plans to raise in its
first IPO filings is used to calculate registration fees. The
final size of the IPO could be different.