Slaughter and May advises Citi on the HK$550 million primary placing by Wisdom Education

Slaughter and May, Hong Kong, advised Citigroup Global Markets Limited, as the placing agent, in relation to the placing of 130,000,000 new ordinary shares in Wisdom Education International Holdings Company Limited (Wisdom Education). The gross proceeds from the placing were approximately HK$550 million. The Company intends to use the net proceeds from the placing for construction and development of the Group’s schools in the PRC and general corporate purpose. The placing was completed on 18 August 2020.

Wisdom Education is one of the largest private education group in South China operating premium primary and secondary schools. It was listed on the Main Board of the Stock Exchange of Hong Kong on 26 January 2017.