HK Investors Show Little Interest in Education Firm's Listing

(Hong Kong) – Investors in Hong Kong have shown little interest in an IPO by an education company over what one analyst said are concerns about the legal status of private schools on the mainland and the company's debt problems.

Virscend Edu, a private school group in the southwestern city of Chengdu, went public on the Hong Kong stock exchange on January 15, but investors bought just 28 million of its shares, about one-third of the total on offer, before trading started.