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Hong Kong-based education services provider Rise Smart Group Holdings files and sets terms for a $6 million US IPO

May 13, 2024

Rise Smart Group Holdings, which provides services to students in Hong Kong seeking higher education abroad, filed on Monday with the SEC to raise up to $6 million in an initial public offering.

The Hong Kong-based company plans to raise $6 million by offering 1.3 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Rise Smart Group Holdings would command a market value of $78 million.

Through its Hong Kong operating subsidiary, Rise Smart provides services to local students who are seeking secondary and higher education studies in the UK, Australia, Canada, and New Zealand. Its offerings principally include overseas studies consultancy services for students in Hong Kong, though it also provides value-added services such as tutoring and visa consultation services.

Rise Smart Group Holdings was founded in 2006 and booked $3 million in revenue for the 12 months ended December 31, 2023. It plans to list on the Nasdaq under the symbol RSHL. The company filed confidentially on August 25, 2023. Revere Securities and Pacific Century Securities are the joint bookrunners on the deal.