Bright Scholar Education Holdings Limited announced that its board of directors received a preliminary non-binding proposal letter dated May 26, 2025. The proposal comes from Mr. Hongru Zhou, the company's chairperson, Mr. Ruolei Niu, its chief executive officer, and several shareholders, including Excellence Education Investment Limited, Ultimate Wise Group Limited, and Sure Brilliant Global Limited.
The Buyer Group proposes to acquire all outstanding Class A ordinary shares not already beneficially owned by its members for a purchase price of US$0.50 per Share, or US$2.00 per American Depositary Share (ADS), in cash. This proposed price represents a premium of approximately 28.21% to the closing price of the ADSs on May 23, 2025, the last trading day prior to the proposal date. It also represents premiums of 23.58% and 18.08% to the volume-weighted average closing price of the ADSs during the last 30 and 60 trading days, respectively.
The Buyer Group currently beneficially owns approximately 78.4% of all issued and outstanding shares and 98.6% of the aggregate voting power of the company. The proposed transaction is intended to be financed with equity and/or debt capital by the Buyer Group. The Board intends to form a special committee of independent and disinterested directors to evaluate the proposal.
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