ChinaEquity Injects CNY4.5m into Longwen before A-share Market Debut

ChinaEquity Group chairman Wang Chaoyong recently revealed on his microblog account that ChinaEquity and another investment company have signed an agreement to inject CNY450 million into the Longwen Education Group, making this round of financing the largest single investment into China's education sector to date.

According to a report by China private equity and venture capital news specialist site PEdaily, Wang said that he had been in contact with Longwen since July, and had selected Longwen as a portfolio company due to the high qualification standard of its instructors.

Longwen Education is an educational institution based in Beijing, with more than 1,000 learning centers covering more than 50 major cities. This latest round of financing will be the last before Longwen's initial public offering.

Note: This news was first released on Dec.16,2011 on PEdaily.cn.