AMTD completes the HK IPO of Edvantage Group
On 16th July 2019, Edvantage Group Holdings Limited (“Edvantage” or “Company”, stock code: 382.HK), the largest private higher education group in the Greater Bay Area, was successfully listed on the Main Board of Hong Kong Stock Exchange (HKEX). AMTD assisted Edvantage in completing this highly successful IPO, which launched the Company onto the international capital markets. AMTD acted as a Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager on the transaction. AMTD has now completed four education sector IPOs since 2018 and 11 IPOs in total in 2019YTD, reinforcing our leadership position in both the education sector and the equity capital markets.
AMTD was instrumental in the execution and distribution of the transaction by bringing in the only cornerstone investor into the IPO. In addition, AMTD contributed high quality international institutional investor sole orders into the transaction which allowed the Company to internationalize and diversify its shareholding base.
Edvantage Group Holdings Limited (382.HK), the largest private higher education group in the Greater Bay Area, was successfully listed on the Main Board of Hong Kong Stock Exchange (HKEX). AMTD acted as a Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager on the transaction
Edvantage offered 250 million shares with issue price at HK$2.85 per share and gross proceeds of nearly US$100 million. The Company is the largest private higher education group in the Greater Bay Area in terms of total student enrolment of business majors for the 2017/2018 school year, according to Frost & Sullivan, and an early mover in pursuing international expansion. The Company currently operates two private higher education institutions in the PRC (Huashang College and Huashang Vocational College) and one private vocational education institution in Australia (Global Business College of Australia). All of its PRC operating schools are deeply rooted in the Greater Bay Area, which is one of the most developed regions in China with strong economic momentum and considerable demand for professional talents, according to Frost & Sullivan.
AMTD is committed to the continuous development and promotion of the education sector. AMTD actively promotes the development of scientific research and supports the education and training of future talents. AMTD has launched Hong Kong’s first university-industry collaboration Financial Technology (FinTech) center together with Hong Kong Polytechnic University and established University of Waterloo-AMTD Innovation Hub jointly with University of Waterloo in Hong Kong. Prior to Edvantage’s IPO, AMTD has also successfully assisted Top Education Group (1752.HK), Chunlai Education (1969.HK) and Koolearn (1797.HK) on their respective Hong Kong IPOs.
As a comprehensive non-bank financial institution rooted in Hong Kong and the Greater Bay Area, covering the global market with strong support from China, AMTD has always been committed to supporting the development of the Greater Bay Area. During the World Economic Forum’s annual meeting in Davos, “Greater Bay Night” was successfully held by the AMTD Group. The event was officiated by Carrie Lam, Chief Executive, Hong Kong SAR Government and Wen Guohui, Deputy Party Secretary of CPC Guangzhou Municipal Committee and Mayor of Guangzhou respectively. Ren Xuefeng, Deputy Party Secretary of CPC Chongqing Municipal Committee and former Deputy Secretary of CPC Guangdong Provincial Committee and Secretary of CPC Guangzhou Municipal Committee and Dai Dongchang, Vice Minister of Transport attended the “Greater Bay Night”. This is the first time to host conference themed with “Guangdong-Hong Kong-Macao Greater Bay Area” in Davos’ history for nearly 50 years. It is officiated by the two most representative guests from the Greater Bay Area, the Chief Executive of the Hong Kong SAR Government and the Mayor of the Guangzhou Municipal Government. This was the first time for the Greater Bay Area to showcase the development opportunities and achievements to the world at the Davos annual meeting of the World Economic Forum. In addition, under the joint witness of Hong Kong SAR Government and Guangzhou Municipal Government, AMTD Group announced the inauguration of Greater Bay Young Entrepreneurs Association (GBYEA) which was jointly established by innovative enterprises including Greater Bay Area Investment Group, Royole, iFLYTEK, GOGOVAN, DayDayCook, etc. in the Greater Bay Area. With the objective of “Leveraging the opportunities of the Greater Bay Area, Enhancing interconnection and Promoting innovative development” and the principle of “Innovation, Mutual assistance and Openness”, the Association is committed to connecting domestic and overseas resources and channels, promoting start-ups of the Greater Bay Area to seize the opportunities, contributing to the development of construction and innovation of the Greater Bay Area.
Mr. Chen Dan, Honorary President of Guangdong Chamber of Commerce and Chairman of Supervisory Committee of Greater Bay Area Investment Group (2nd right) and Marcellus Wong, Vice Chairman of AMTD (2nd left), Sin Yat-Kin, Chief of Staff of AMTD Group (1st right) and Tim Fang, Head of Global Markets of AMTD (1st left) attended the listing celebration dinner
Furthermore, as the originating shareholder and representative of Hong Kong shareholders, AMTD Group together with nearly 50 domestic and foreign well-known listed companies and private leading enterprises including Edvantage Group, supported by the Guangdong Federation of Industry and Commerce (广东省工商业联合会) and the Guangdong General Chamber of Commerce (广东商业联合会), jointly established Greater Bay Area Investment Group (GBAIG). This is also the first active investment company that has gathered high-quality listed companies and private leading companies in Guangdong, Hong Kong and Macao including. Calvin Choi, Chairman and CEO of AMTD Group, was also appointed to join the Board of Directors as the executive director and senior vice president. In addition, AMTD has also assisted a number of leading enterprises in the Greater Bay Area to capture the valuable strategic development opportunities, taking advantage of the extensive resources of Hong Kong’s international capital market. AMTD has supported the IPOs of Guangzhou Rural Commercial Bank, the first Guangdong-based bank listed in Hong Kong; the HK IPO of Aoyuan Healthy, a renowned property management service and commercial operational service provider; the HongKong IPO of Mobvista, a leading technology services platform for global app developers; the US IPO of X Financial, the leading Fintech company based in Shenzhen; the Hong Kong IPO of 7Road, the leading we
b game developer and operator in China; the US IPO of Aptorum, a Hong Kong-based pharmaceutical company and the Hong Kong IPO of Weigang, a leading comprehensive hazardous waste incineration turnkey solution provider. On top of the numerous HK and US IPOs for leading enterprises in the Greater Bay Area, AMTD also assisted a few Hong Kong-based conglomerates, including New World Development, Sun Hung Kai & Co, Emperor Group, Regal Hotels Group, Far East Consortium, CSI Properties, and several Greater Bay-based companies including Guangzhou Metro, Aoyuan Group, Logan Property, LVGEM, R&F properties, etc. to successfully issue bonds in the international bond capital markets.