Lixiang Education Proposes $33 Million U.S. IPO

Lixiang Education Holding (LXEH) intends to raise $33.3 million in an IPO of its American Depositary Shares [ADSs] representing underlying ordinary shares., according to an F-1 registration statement.

Lishui City, China-based Lixiang was founded to develop offline campuses for primary, middle school and high school students featuring government approved curriculum programs.

Management is headed by wife and husband team Ms. Fen Ye, who is founder and Chairlady and her husband, CEO Mr. Biao Wei.

Mr. Wei previously ‘attended a professional program in fashion design at the Zhejiang Institute of Silk Textiles.’

As of September 1, 2019, the company had a total of 4,558 enrolled students and 322 teachers.

Lixiang has received at least $8.7 million from investors including The founder and her husband own 90% of company stock, with two other family members owning the remaining 10% of stock, pre-IPO.

The company has two campuses that it operates for primary

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