Raffles Education Corp

Raffles Education unit disposes 51% stake in China university operator for $85 mil

SINGAPORE (Apr 29): Raffles Education Corp is selling its entire 51% stake in China-based university operator Langfang Development Zone Oriental University City Sino-Singapore Education Investment Co for 420 million yuan ($84.6 million).

The sale will be made through Raffles Education's subsidiary Langfang Tonghui Education Consultancy Co and the buyer is China individual Liu Yanwen.

Raffles Education scraps $27.4 mil rights issue in view of recent market conditions, share price falls

SINGAPORE (Mar 6): Raffles Education Corp is cancelling its proposed 2-for-10 rights issue, which would have allowed the group to raise up to about $27.4 million in net proceeds after raising 275.9 million new shares at the issue price of 10 cents per share.  

Citing “recent market conditions”, the group also notes that its current share price is currently below the 10-cent issue price of the rights shares.

Prior to the midday trading break, shares in the group were down by 2 cents or 18.2% in the year to date (YTD) at 8.8 cents.

Disappointment descends on IPC, Raffles Education

SINGAPORE (Nov 27): The big splash that Oei Hong Leong made in the market two months ago lifted shares in IPC Corp and Raffles Education Corp sharply. But investors who attempted to ride the wave might now be underwater.


Oei Hong Leong scoops up more shares in Raffles Education

SINGAPORE (Sept 25): Oei Hong Leong has increased his stake in Raffles Education Corp to 14.04% from 12.77%.

According to a Monday night regulatory filing, the billionaire businessman scooped up 12.2 million shares for $3.6 million in open market transactions on Monday. That works out to be an average price of 29.2 cents per share.

Shares in the private education provider closed 5.5 cents or 21.6% higher at 31 cents on Monday, making the second in the list of top 20 percentage gainers. About 22.2 million shares changed hands.

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