Laureate IPO watch: The world’s largest educational institution Laureate Education is currently seeking for investment banks to take charge of its IPO (initial public offering), and proposed to raise up to $ 750 million.
Sources said that Laureate has selected Morgan Stanley and Barclays to be the representatives for the public offering. In addition, Citigroup will also participate in the Laureate IPO.
Laureate was acquired by CEO Douglas Becker and the U.S. private equity giant KKR at the price of $3.82 billion. The sources said the company will submit its IPO registration statement after June this year. Although the financing amount has not been determined yet, it is expected to be between $500 million and $750 million.
According to the official website of Laureate, former U.S. President Bill Clinton is its honorary president and the company is currently running 60 online universities and providing undergraduate and graduate degrees to more than 675 000 students all over the world. According to the report published by Standard & Poor’s recently, Laureate generates about half of its revenues from Mexico, Chile and Brazil.
Laureate, KKR, Morgan Stanley, Barclays and Citigroup declined to comment on this news.