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Canada-based Visionary Education Technology Holdings Group sets terms for $23 million US IPO

March 25, 2022

Visionary Education Technology Holdings Group, which provides secondary and post-secondary education services in Canada, announced terms for its IPO on Friday.

The Markham, Canada-based company plans to raise $23 million by offering 5 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Visionary Education Technology Holdings Group would command a market value of $180 million.

The company offers private online and in-person education services to Canadians and international students, as well as immigration and study visa services, student housing, career guidance, internship, and entrepreneurship guidance. Its educational programs include Ontario Secondary School Diploma, career-oriented two-year college and four-year university diploma programs, vocational education programs, and master programs.

Visionary Education Technology Holdings Group was founded in 2013 and booked $9 million in revenue for the 12 months ended September 30, 2021. It plans to list on the Nasdaq under the symbol VEDU. Joseph Stone Capital is the sole bookrunner on the deal.