News & Events

The Hong Kong and Beijing offices of the Firm represented Xueda Education Group (“Xueda Education”) in connection with its initial public offering and listing on the New York Stock Exchange of 15,444,500 American Depositary Shares (including full exercise of the over-allotment option), each representing two ordinary shares.  Xueda Education raised a total of US$146.7 million in gross proceeds from the offering.  Goldman Sachs acted as the sole global coordinator and sole bookrunner for the offering.   

The Hong Kong and Beijing offices of the Firm also represented Xueda Education and a selling shareholder in connection with a private placement transaction which closed simultaneously with the initial public offering.  Under the concurrent private placement transaction, an affiliate of Warburg Pincus LLC purchased 7,124,000 and 3,000,000 ordinary shares from Xueda Education and the selling shareholder, respectively, at the per-share price of the initial public offering for a total consideration of US$48.1 million.

Xueda Education is the leading national provider of tutoring services for primary and secondary school students in China with a focus on offering personalized tutoring services.  Xueda Education’s ADSs are traded on the New York Stock Exchange under the symbol of “XUE.”  

The Simpson Thacher team for the transactions included Leiming Chen, Kevin Zhang, Yang Wang, Ines Wu and legal consultant Vivien Mao (Corporate) and Christian Miller (Tax), with valuable contributions from summer associates Linda Tieh and Kai Fan.