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Laureate Education Will File for Initial Public Offering and Adopt New Model

Laureate Education Inc., one of the largest for-profit education companies in the world, announced on Friday it would file for an initial public offering. The company also announced it had converted itself into a public-benefit corporation, a model that commits a company to providing public service as well as earning profits.

In a statement on Friday, Laureate said it would be the largest company to become a public-benefit corporation. “For a long time, we didn’t have an easy way to explain the idea of a for-profit company with such a deep commitment to benefiting society,” the company’s chairman and chief executive, Douglas L. Becker, said in the statement.

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