Slaughter and May advises Citi on the HK$1.2 billion primary placing by Hope Education Group

Slaughter and May, Hong Kong, advised Citigroup Global Markets Limited, as the placing agent, in relation to the placing of 465,000,000 new ordinary shares in Hope Education Group Co., Ltd. (Hope Education). The gross proceeds from the placing were approximately HK$1.2 billion. The Company intends to apply the net proceeds from the placing primarily for acquisitions of schools in the PRC, construction and development of the Company’s schools in the PRC and general corporate purpose. The placing was completed on 13 August 2020.

Hope Education is one of the largest private higher education groups in China. It was listed on the Main Board of the Stock Exchange of Hong Kong on 3 August 2018.