U.S. Markets open in 5 hrs 1 min

New Oriental Education & Technology Group Inc. (EDU)

NYSE - NYSE Delayed Price. Currency in USD
Add to watchlist
140.00+0.58 (+0.42%)
At close: 4:00PM EDT
Full screen
Loading interactive chart...
  • Bloomberg

    New Oriental Picks Banks for Hong Kong Second Listing

    (Bloomberg) -- Chinese private school operator New Oriental Education & Technology Group Inc. has chosen three banks for a planned second listing in Hong Kong that could raise at least $1 billion, according to people familiar with the matter.The New York-listed company is working with Bank of America Corp., Credit Suisse Group AG and UBS Group AG on the share sale, the people said, asking not to be identified as the information is private. New Oriental is planning to list as early as the end of this year, and more banks could be added to the deal at a later stage, they said.Deliberations are ongoing and details of the share sale including timing and size could still change, the people said. Representatives for New Oriental, Bank of America, Credit Suisse and UBS declined to comment.New Oriental would join a growing cohort of U.S.-traded Chinese companies seeking second listings in Hong Kong, amid rising tensions between Beijing and Washington. China’s No. 2 online retailer JD.com Inc. and gaming company NetEase Inc. raised a combined $7.6 billion in Hong Kong share sales in June, and U.S.-listed Chinese companies mulling listings in the financial hub include 21Vianet Group Inc., GDS Holdings Ltd. and Yum China Inc., Bloomberg News has reported.Founded in 1993, New Oriental is the largest provider of private educational services in China with a network of 104 schools as of May 31, according to its website. The coronavirus outbreak, which has shuttered schools across the globe, contributed to the company’s net income in the fiscal fourth quarter tumbling 69.5% year-on-year to $13.2 million. New Oriental’s guidance for net revenue in the upcoming quarter was $911.2 million to $953.5 million, below the consensus estimated range of $1.06 billion to $1.25 billion from analysts surveyed by Bloomberg.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Analysts Have Lowered Expectations For New Oriental Education & Technology Group Inc. (NYSE:EDU) After Its Latest Results
    Simply Wall St.

    Analysts Have Lowered Expectations For New Oriental Education & Technology Group Inc. (NYSE:EDU) After Its Latest Results

    New Oriental Education & Technology Group Inc. (NYSE:EDU) last week reported its latest annual results, which makes it...

  • New Oriental Education & Technology Group Inc. (EDU) Q4 2020 Earnings Call Transcript
    Motley Fool

    New Oriental Education & Technology Group Inc. (EDU) Q4 2020 Earnings Call Transcript

    Image source: The Motley Fool. New Oriental Education & Technology Group Inc. (NYSE: EDU)Q4 2020 Earnings CallJul 28, 2020, 8:00 a.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorGood evening, and thank you for standing by for New Oriental's FY 2020 Fourth Quarter Results Earnings Conference Call.