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China tech

Chinese online learning startup GSX seeks $220m US listing

Company joins wave of education group IPOs from mainland

Beijing-based online learning platform GSX filed on Wednesday with the U.S. Securities and Exchange Commission for a listing on the New York Stock Exchange.   © Reuters

NEW YORK -- Chinese online learning platform GSX Techedu filed for a U.S. initial public offering on Wednesday, looking to raise up to $220 million as the company aims to capture more of the private tutoring market back home, where parents see education as paramount.

The Beijing-based company, founded in 2014 by the former executive president of U.S.-listed group New Oriental Education and Technology, seeks to list on the New York Stock Exchange. The filing follows two Chinese unicorn listings on the Nasdaq last week, which together raised $300 million.

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