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Genesis, Warburg-backed Chinese edtech firm Zhangmen files for US IPO


Genesis, Warburg-backed Chinese edtech firm Zhangmen files for US IPO
May 21, 2021
China’s Zhangmen Education, which is backed by Genesis Capital and Warburg Pincus, has filed for an initial public offering (IPO) to list on the New York Stock Exchange (NYSE) as Beijing tightens scrutiny on the country’s booming private tutoring industry.
In a prospectus filed with the US Securities and Exchange Commission (SEC) on Wednesday, Shanghai-based Zhangmen did not reveal the pricing of its shares or how many American depositary shares (ADSs) it would offer but set a placeholder amount of $100 million.
A Bloomberg report in December 2020, citing sources, said, Zhangmen aimed to garner $300 million through a listing in the US. ....

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