LZYE Group, a Hong Kong based education provider, has listed on the London AIM market with a market capitalisation of £19.7m. Founded in 2006 by Michelle Lai, LZYE currently operates from three centres in Hong Kong. Over 2,000 children (aged between 6 months and 12 years old) attend courses held at its purpose-designed centres on a regular monthly basis, generating a monthly income of HK$1,600,000.
In addition to the programmes devised by the Group there are strategic alliances and operating arrangements with various overseas education service providers, such as Misulo Company Ltd, the Oxford University Press (China) and Daekyo Hong Kong Company Limited, a provider of Gakken courses. Subjects range from languages, maths and science to theatre, music and dance and they are designed to complement formal education provided by traditional schools.
The Misulo programme is currently provided in over 100 learning centres in China and the Directors believe they can convert 12 of these into LZYE branded outlets in the current financial year. This is a valuable asset, as the Chinese especially tend to favour foreign educational qualities and brands. All courses are delivered by one of the Group's 100-plus trained and qualified teachers.
The Company raised £1.0m net of expenses and intends to use the cash to bolster growth in Hong Kong, fund expansion into mainland China and develop its own range of programmes.
In the period ending March 2012, the Company reported losses of 20.1m HKD on sales of 18m HKD.
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