Asia Ex-J Consumer/ Transport analyst

Valerie Law, CFA

Equity Bottom-Up

Following our earlier note <a href="https://www.smartkarma.com/insights/rise-ipo-preview-an-english-language-provider-hoping-to-cash-in-on-china-s-appetite-for-learning" target="_blank" data-smartkarma-citation="insights:14168">RISE IPO Preview: An English Language Provider Hoping to Cash in on China’s Appetite for Learning</a>,  we decided to take a closer look at how RISE compares with other US-listed English Language Training (ELT) providers operating in China. In particular, we will compare the revenue size, brief history and unique factors of  RISE, <a href="https://www.smartkarma.com/entities/531" target="_blank" data-smartkarma-citation="entities:531:1">New Oriental Education &amp; Tech Grp (Adr) (EDU US)</a>(NOE), China Online Education (COE) and VIPKID. Although VIPKID is a new kid on the block, its…

Following our earlier note RISE IPO Preview: An English Language Provider Hoping to Cash in on China’s Appetite for Learning,  we decided to take a closer look at how RISE compares with other US-listed English Language Training (ELT) providers operating in China. In particular, we will compare the revenue size, brief history and unique factors of  RISE, New Oriental Education &amp; Tech Grp (Adr) (EDU US)(NOE), China Online Education (COE) and VIPKID. Although VIPKID is a new kid on the block, its…

RISE IPO Preview 2: How Does It Stack up Against NOE, COE, and VIPKID in China?

Equity Capital Markets

NaaS Technology  / Equity Capital Markets

RISE is an English Language Training (ELT) provider in China with a network of 56 self-owned learning centres in Tier-1 Cities, and 190 franchised learning centres in Non-Tier-1 cities.  According to <a href="https://www.bloomberg.com/news/articles/2017-07-12/bain-is-said-to-seek-rise-education-sale-at-1-billion-valuation" target="_blank">news sources</a>, Bain Capital acquired the company back in September 2013 for USD 130m, and is now seeking an exit at USD 1bn valuation. The company is hoping to raise about USD 200m in the upcoming IPO. In Part 1 of this preview, we aim to answer some questions such as:<ol><li>What is the growth of the ELT industry in China like?</li><li>How did the company grow its revenues and profits?</li><li>What is RISE market share compared to other major players?</li><li>What are specific risks facing the company?</li><li>What are our initial thoughts on valuation?</li></ol>

RISE is an English Language Training (ELT) provider in China with a network of 56 self-owned learning centres in Tier-1 Cities, and 190 franchised learning centres in Non-Tier-1 cities.  According to news sources, Bain Capital acquired the company back in September 2013 for USD 130m, and is now seeking an exit at USD 1bn valuation. The company is hoping to raise about USD 200m in the upcoming IPO. In Part 1 of this preview, we aim to answer some questions such as:What is the growth of the ELT industry in China like?How did the company grow its revenues and profits?What is RISE market share compared to other major players?What are specific risks facing the company?What are our initial thoughts on valuation?

RISE IPO Preview: An English Language Provider Hoping to Cash in on China's Appetite for Learning

China

NaaS Technology Inc. operates as an electric vehicle charging services provider. The Company serves customers in China.

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NaaS Technology (NAAS US)

RISE IPO Preview 2: How Does It Stack up Against NOE, COE, and VIPKID in China?

Following our earlier note RISE IPO Preview: An English Language Provider Hoping to Cash in on China’s Appetite for Learning, we decided to take a...

Valerie Law, CFA

RISE IPO Preview: An English Language Provider Hoping to Cash in on China's Appetite for Learning

RISE is an English Language Training (ELT) provider in China with a network of 56 self-owned learning centres in Tier-1 Cities, and 190 franchised...

Valerie Law, CFA

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52-week Range

Market Cap (USDm)

P/E

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