When does New Oriental submit the prospectus? How much does New Oriental need to raise

Recently, it was reported that New Oriental plans to let its online classroom New Oriental go online to Hong Kong for IPO, with a planned financing of no more than 400 million US dollars. New Oriental did not respond to this. Yesterday evening, New Oriental online officially submitted its prospectus to the Hong Kong stock exchange.

according to the prospectus, New Oriental online's total revenue was 446 million and net profit was 92.2 million in 2017. In the nine months ended February 28, 2018, revenue reached 485 million yuan and net profit was 80.77 million yuan. As of May 31, 2018, New Oriental online has 62 full-time teachers, 957 part-time teachers, 53 full-time tutors and 1525 part-time tutors.

In terms of financing, New Oriental online has completed three rounds of financing before. In the first round, Tencent invested US $50.8786 million; in the second round, dragon cloud and China city capital invested US $73.4532 million and US $19.2464 million respectively; in the third round, Yu Minhong's investment company invested US $20.6687 million. In terms of equity structure, the top three shareholders are new Oriental, Tencent and auspicious, with 66.72%, 12.06% and 7.11% shares respectively. In addition, Tang Hua, the spouse of Jiang Jinhua, founder of Jinglin assets, is the fourth largest shareholder, holding 6.87%.