Australian-listed Arowana International plans to sell up to 85 percent of its private education businesses, as well as raising money to buy another education business in New Zealand.
It plans to list Intueri Education New Zealand on both the ASX and NZX stock exchanges.
The company said it would offer $169 million-$234 million of shares in Intueri to Australian and New Zealand institutions and to New Zealand retail investors.
Arowana operates under the Intueri brand in New Zealand and plans to pay for the Quantum Education Group with $60 million of the float proceeds.
It forecasts an adjusted net profit of $16.8 million for calendar 2014, rising to $19.8 million the following year.
Arowana said the offer would allow it to broaden the New Zealand investor base for Intueri.
It planned to keep between 75 percent and 85 percent of Intueri, depending on demand for the shares.
Intueri enrolled about 7000 domestic and international students in 2013, as well as another 2000 students online.
UBS and Macquarie have been appointed joint lead managers for the offer, which opens on 7 May.