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English-test coaching firm aims for college exams market

(Xinhua)
Updated: 2008-04-18 15:19

China's largest English-test-preparation company, which has helped hundreds of thousands of Chinese students enter foreign universities, aims to break into the national entrance examination market.

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Beijing-based New Oriental Education & Technology Group Inc announced Thursday that it plans to acquire a 60 percent of stake in Mingshitang, one of Beijing's largest private schools tutoring students retaking college entrance examinations.

The transaction is scheduled to close in June 2008, and Mingshitang will maintain its own brand.

"The New Oriental plans to provide services all across China in the following years and build the largest retaker-training brand," said Michael Yu, the New Oriental CEO.

It would also set up a center to edit textbooks specially for retakers.

New Oriental, which began operating in 1993, was listed on the New York Stock Exchange in September 2006. It has developed from an English training school to one of the largest provider of private educational services in China.

The school had nearly 270,000 students enrolled for its latest fiscal quarter, which ended February 29.