Bloomberg says shares of Raffles Education Corp. climbed by most in almost one year after Malaysian state-linked investment company Khazanah Nasional Bhd agreed to buy a 10% of its wholly-owned unit Oriental University City.

Khazanah will pay $62.5 million for the stake in the unit, which operates a campus with about 36,000 students in China’s Hebei Province, Raffles said. The stock surged 14% to 39.5 cents as of 9:20 a.m., the steepest gain since Feb 27.