Lixiang Education Holding (LXEH) has filed to raise $33.3 million in an IPO of its American Depositary Shares [ADSs] representing underlying ordinary shares., according to an F-1 registration statement.
The firm provides private primary and secondary education to students in Lishui City, Zhejiang Province, China.
Since LXEH is primarily an offline-focused firm, it faces ongoing uncertainties related to the effects of the Covid-19 virus on its future trajectory, so I’m staying away from the IPO.
Lishui City, China-based Lixiang was founded to develop offline campuses for primary, middle school and high school students featuring government approved curriculum programs.
Management is headed by wife and husband team Ms. Fen Ye, who is founder and Chairlady and her husband, CEO Mr. Biao Wei.
Mr. Wei previously ‘attended a professional program in fashion design at the Zhejiang Institute of Silk Textiles.’
As of September 1, 2019, the company had a