RYB Education, Inc. Announces Pricing of Initial Public Offering

BEIJING, Sept. 27, 2017 /PRNewswire/ -- RYB Education, Inc. ("RYB" or the "Company") (NYSE:RYB), a leading early childhood education service provider in China, today announced that it has priced its initial public offering of 7,800,000 American depositary shares ("ADSs"), at $18.50 per ADS for a total offering size of approximately US$144.30 million, assuming the underwriters do not exercise their over-allotment option to purchase additional ADSs. Each ADS represents one Class A ordinary share of the Company. The ADSs are expected to begin trading on the New York Stock Exchange today under the ticker symbol "RYB".

Of the total 7,800,000 ADSs offered, 5,500,000 ADSs are being offered by the Company and 2,300,000 ADSs are being offered by a selling shareholder. In addition, the selling shareholders have granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 1,170,000 additional ADSs to cover over-allotments.

Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. International plc are acting as lead bookrunners for the offering, while China International Capital Corporation Hong Kong Securities Limited and BNP Paribas Securities Corp. are acting as joint bookrunners.

A registration statement related to these securities has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This offering is being made only by means of a prospectus forming part of the effective registration statement. A copy of the final prospectus relating to the offering may be obtained, when available, by contacting the prospectus department at Credit Suisse Securities (USA) LLC at One Madison Avenue, New York, NY 10010, United States, attention: Prospectus Department, by telephone at 1-800-221-1037 or by emailing newyork.prospectus@credit-suisse.com; Morgan Stanley & Co. International plc at Room 214, 2nd Floor, 180 Varick Street, New York, NY, 10014, by telephone at 1-917-606-8487 or by emailing prospectus@morganstanley.com; China International Capital Corporation Hong Kong Securities Limited at 28th Floor, 350 Park Avenue New York, NY, 10022,  by telephone at 1-646-794-8800 or by emailing g_prospectus@cicc.com.cn; or BNP Paribas Securities Corp. by telephone at +1-888-860-5378 or by emailing dl.nyk_elo@us.bnpparibas.com.

About RYB Education, Inc.

Founded on the core values of ''Care'' and ''Responsibility,'' RYB Education, Inc. is a leading early childhood education service provider in China. Since opening its first play-and-learn center in 1998, the Company has grown and flourished with the mission to provide individualized age-appropriate education to stimulate and nurture children so they can realize their full potential. During its nearly two decades of operating history, the Company has built "RYB" into a well-recognized education brand and helped bring about many new educational practices in China's early childhood education industry. RYB's comprehensive early childhood education solutions meet the needs of children from infancy to 6 years old through structured courses at kindergartens and play-and-learn centers, as well as at-home educational products and services through its Hong Shan Enable Alliance.

For investor and media inquiries, please contact:

In China:

RYB Education, Inc.
Serena Xue
Tel: 86-10-87675611 ext 6851
E-mail:  ir@rybbaby.com

The Piacente Group, Inc.
Ross Warner
Tel: +86 (10) 5730-6200
E-mail: ryb@tpg-ir.com  

In the United States:

The Piacente Group, Inc.  
Alan Wang
Tel: +1-212-481-2050
E-mail: ryb@tpg-ir.com

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