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Xueda Education Group (XUE) |
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WIKI ANALYSIS
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
Xueda Education Group (NYSE:XUE) is a Chinese company which provides personalized tutoring services to primary and secondary school level students. According to the International Data Corporation, Xueda is is the largest provider of tutoring services to these education ranges in China in terms of revenue.[1] The company operates 157 learning centers which are spread across 44 cities. The company serves approximately 54,000 distinct students..[2]
Despite being the leader, the company's market share is estimated at .42%. This is due to the high level of fragmentation and sheer size of the market in China.[1] The company expects that as China's middle class continues to rise, the size of the market will also vastly increase. According to the International Data Corporation, the market for tutoring services for primary and secondary schools is expected to rise with an average annual growth rate of 10.8% until 2014. This would make the market worth $32.5B in 2014..[3]
The company's initial public offering of stock on the NYSE occurred on November 1, 2010. The company offered 13.4M shares each for $9.5. This was far above the initial price range of $7.25-$9.25. The IPO raised a total of $128M. The lead underwriter of the deal was Goldman Sachs Group (GS).[4]
The company's revenues have risen significantly since 2007. The company reported $4.4M, $34M, and $77M in 2007, 2008, and 2009 respectively. Despite this rise, net income remained negative throughout the past 3 years. The company reported net income figures of -$6M, -$12M, and -$2M in 2007, 2008, and 2009 respectively.[5]
References
- ↑ 1.0 1.1 XUE F-1 2010 Prospectus Summary "Our Business" pg 1
- ↑ XUE F-1 2010 Prospectus Summary "Our Business" pg 1-2
- ↑ XUE F-1 2010 Prospectus Summary "Our Industry" pg 2
- ↑ Renaissance Capital - IPO Home "Xueda Education prices IPO at $9.50, above the range" 1 Nov 2010
- ↑ XUE F-1 2010 Prospectus Summary "SUMMARY CONSOLIDATED FINANCIAL AND OPERATING DATA " pg 9
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