Prior close: $18.93
Major shareholder looking to sell down
In a very brief statement released to the market on Thursday morning, IDP stated that their major shareholder, Education Australia (EA), is “undertaking a consultation process with its 38 university shareholders which may lead to consideration of options to realise capital for EA shareholders”.
EA has a long history with IDP. It originally owned the entire business before entering into a 50/50 joint venture with SEEK in 2006. SEEK subsequently sold down its stake during the IPO in 2015, whilst EA retained its shareholding.