Ambow Education Sets IPO Terms

Ambow Education Holding Ltd., a provider of educational and career enhancement services in China, has set its IPO terms to around 10.68 million American depository shares being offered at between $10 and $12 per share. 

The company plans to trade on the NYSE under ticker symbol AMBO, with J.P. Morgan and Goldman Sachs (Asia) serving as co-lead underwriters. It reports $20 million in net income for 2009, on $132 million in revenue.

Ambow shareholders include Actis, Macquarie, EdVenture, CStar Investment and JAFCO Asia Technology Fund.