Minsheng Edu

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Minsheng Education Group Company Limited (together with its subsidiaries, “the company”) is a privately owned higher education provider in China offering undergraduate programs and vocational education through four schools (three of which are located in the Greater Chongqing area; and the remaining one school is located in the Inner Mongolia Autonomous Region). Its largest school in Chongqing has been in operation for over 10 years. As of October 31, 2016, there were over 18,750 students enrolled at the school. As of November 30, 2016, the school occupied 20 parcels of land with over 1,000,000 sq. m. of gross site area and 164 buildings with over 400,000 sq. m. of gross floor area. The school is located in a peri-urban outskirt area of the municipality. Another school of the company, also in Chongqing, is located in a densely populated urban setting, which had close to 10,000 students under enrollment as of October 31, 2016.  The campus consisted of eight parcels of land with a gross site area of approximately 306,200 sq. m. and 22 buildings with a gross floor area of approximately 141,860 sq. m. as of November 30, 2016. The school acquired a new parcel of land in August 2016, which will be used to construct additional educational facilities. The remaining two schools the company operates are smaller-scale vocational colleges located in urban areas in their respective locations. The company plans to acquire existing schools and set up new schools across China and to operate them. IFC is looking at an equity investment of US$30 million in the company.