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RYB Education Institution shares rise as it becomes first Chinese early years education provider to list in New York

China’s RYB Education Institution made its debut on Wall Street today, with shares rising 36%

 RYB Education Institution shares rise as it becomes first Chinese early years education provider to
RYB is a Chinese early years education provider

The first Chinese early years education provider to listed in New York did so today and shares rose over 36% in the process.

China’s RYB Education Institution made its debut on Wall Street today, rising 36 % beyond the IPO price of US$18.50.

The company raised US$144.3mln, offering almost 8mln American depositary shares (ADS), with the cash going to further expand its footprint in China’s education industry.

RYB currently has more than 1,000 self-operated and franchised kindergartens, as well as play-and-learn centres in 250 Chinese cities.

Though it is one of the largest providers to focus on early education in China, it accounts for less than 0.5% of the market by revenue in 2016.

China’s early childhood education market is set to reach 200 billion yuan (US$30.11 billion) in 2017, according to one set of official figures.

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