Golden Sun Education Group Limited (GSUN) plans to raise $20 million in an initial public offering on Wednesday, June 22, IPO Scoop reports. The company will issue 4,400,000 shares at $4.00-$5.00 per share.
Over the past twelve months, Golden Sun Education Group Limited generated $15 million in revenue and $2.2 million in net profit. The company has a market capitalization of $78.3 million.
Network 1 Financial Securities acted as underwriter for the IPO.
Golden Sun Education Group Limited provided the following company description for its IPO: “We are not a Chinese operating company, but rather a holding company incorporated in the Cayman Islands. Our Class A ordinary shares offered in this prospectus are shares of our Cayman Islands holding company. As a holding company with no physical operations of its own, we conduct our business through our operating entities located in the People’s Republic of China (PRC). We are one of the leading Spanish tutoring service providers in China in 2019, according to industry report. Founded in 1997 and based in Shanghai, China, we have over twenty years of experience in providing educational services that focus on developing the strengths and potential of each of our students, as well as promoting the skills and lifelong learning interests. Prior to the Reorganization, we operated a private premium primary school and a private premium secondary school through two VIEs, in addition to our current operations which include tutoring centers for children and adults, an educational business which partners with high schools to offer language courses to their students and a logistics company that provides logistics and consulting services. . Since the Reorganization, we no longer operate private primary or secondary schools and no longer use a VIE structure. Our China-based subsidiary, Golden Sun Wenzhou, and its subsidiaries operate tutoring centers in China. For the years ended September 30, 2021 and 2020, 90% and 88% of our total revenue (excluding revenue from discontinued operations) was generated by our tutoring centers, respectively. Each of our centers focuses on different target groups of students by providing different tutoring programs: Yangfushan Tutorial is also responsible for providing secondary education program for students of Central Radio and Television Specialized Secondary School located in the city of Wenzhou, China. *Hongkou Tutorial offers various English and other foreign language tutoring programs and Gaokao and Zhongkao rehearsal tutoring programs for individual students as well as companies and other organizations. * Jicai Tutorial offers tutoring programs in foreign languages other than English for individual students, companies and other organizations. Our programs offered to repeaters specifically target future Gaokao or Zhongkao. As for private foreign language lessons, we offer English, Spanish, German, French and Japanese lessons for students who intend to study abroad, people with looking for a job requiring a certain command of these languages and companies or organizations whose workers must have a certain command of these languages. languages. **Note: Revenues and net income are in US dollars for the year ended September 30, 2021. “.
Golden Sun Education Group Limited was founded in 1997 and has 494 employees. The company is located at Profit Huiyin Square North Building, Huashan 2018, Unit 1001, Xuhui District, Shanghai, China and can be reached by phone at +86-0577-56765303 or web at http://www.jtyjyjt.com /.
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