In 2019, Meten was seeking to list on the US stock market to support their fast-business growth and expansion.
EdtechX (NASDAQ: EDTX), headquartered in London UK, is the world’s first Special Purpose Acquisition Company (SPAC) focused on the consolidation and development of education services and the education technology industry. EdtechX listed on the Nasdaq on October 2018 with an initial capital raise of $US63.5 million. Compared with an Initial Public Offering process, a SPAC merger is faster with higher certainty, and has financing support from the SPAC and better corporate governance after listing.
Macquarie Capital utilised its extensive experience in the education and training sector in China, to develop an attractive and compelling equity story, gain support from global investors, and ultimately obtain listing status for Meten.
Following the merger, Meten and EdtechX have rebranded as Meten EdtechX Education Group (METX) and will continue to focus on providing leading English language and future skills training to a fast-growing population of Chinese students and professionals.
Chinese education company listed via a SPAC merger
private placement from global investors
“Our team is proud to have supported Meten as this is the first Chinese education company listed via SPAC merger. By leveraging our expertise in the education sector, we were able to help Meten to pursue its expansion plans and offer industry leading English and future skills training to a fast-growing population of Chinese professionals.”
Raymond Sun, Co-Head of Equity Capital Solutions, Macquarie Capital Asia