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Highlights:
- Genius Group Limited is planning to offer its shares on the New York Stock Exchange (NYSE).
- Genius Group describes itself as one of the leading edtech companies globally and aims to revolutionize the global education system.
- Genius Group is looking to capitalize on the rapidly growing education sector.
Singapore-based education technology (edtech) company Genius Group Limited wants to go public in the United States equities markets and has filed documents with the regulatory authorities.
The documents filed with the Securities and Exchange Commission (SEC) revealed that Genius Group plans to sell approximately 7.3 million shares through the initial public offering (IPO).
Key highlights of Genius Group IPO
Genius Group Limited is planning to offer its shares on the New York Stock Exchange (NYSE), and it has kept the price range of shares between US$ 5 to US$ 6.
The expected offering size is US$ 40 million, and the company has mentioned the use of gross proceeds as US$ 25.1 million for completing IPO acquisitions and the remaining money for corporate purposes, working capital and development of the edtech platform.
The underwriting responsibility for Genius Group IPO is on ThinkEquity, and there would be an option of over-allotment of about 1.1 million shares.
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The shares of the Singapore-based edtech company are expected to trade under the stock symbol GNS.
It is uncertain when the company would start trading publicly, and at the time of drafting, there was no information on how to buy the pre-IPO stock.
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Over the past few years, retail investors have started getting more exposure to the pre-IPO stocks through trading platforms of brokerage companies.
If and when the company starts trading, investors could hold them through stockbrokers and online trading accounts.
Bottom line
Genius Group describes itself as one of the leading edtech companies globally and aims to revolutionize the global education system.
As per the SEC filing, there were 1.9 million students on the company's GeniusU Edtech platform, and it offers more than 4,000 courses. Genius Group claims that over 1,000 new students join the platform every day.
The Singapore-based company has more than 9,400 partners, including faculty members and community partners.
Genius Group is looking to capitalize on the rapidly growing education sector. As per the company prospectus, the global education sector would value US$ 10 trillion by 2030 and expand at a compound annual growth rate of 4.5 per cent.
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