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Sequoia’s China Maple Leaf Education Systems files for Hong Kong IPO

9 Jul 2014

skoolVenture capital-backed Hong Kong-based school operator China Maple Leaf Education Systems is preparing for an IPO.

The company, which is backed by US firm Sequoia Capital, has filed for an IPO on Hong Kong’s stock exchange, said the Asian Venture Capital Journal.

China Maple Leaf did not say how many shares it was looking to offer and at what price.

Sequoia bought a 20 per cent stake in the business for RMB180m ($29m) in 2008.

Last year the company posted a net profit of RMB105m on revenues of RMB471.2m.

Last month Sequoia led a $75m Series D round for identity management specialist Okta and invested $15m in Indian gaming company Octro.
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