April 1 (Reuters) - IDP Education Ltd (IEL) :
- LAUNCHES EQUITY CAPITAL RAISING COMPRISING A FULLY UNDERWRITTEN A$175 MILLION INSTITUTIONAL PLACEMENT
- ALSO LAUNCHES A NON-UNDERWRITTEN SHARE PURCHASE PLAN TO RAISE UP TO A$15 MILLION
- PLACEMENT OF NEW FULLY PAID ORDINARY SHARES IN IDP WILL BE CONDUCTED AT A$10.65/NEW SHARE
- RAISING CAPITAL TO ENSURE IDP CAN NAVIGATE CURRENT COVID-19 UNCERTAINTY WITH STRONG BALANCE SHEET
- ENGLISH LANGUAGE TESTING SCHOOLS IN CAMBODIA,VIETNAM MOVED TO ONLINE; TEMPORARY CLOSURES, REDUCED VOLUMES WILL IMPACT SHORT TERM REVENUE
- REDUCTION IN STAFF COSTS THROUGH REDUCTION OF BOARD FEES AND SENIOR STAFF SALARY, USE OF PAID LEAVE, AMONG OTHERS
- SELECTIVE REDUCTION IN MARKETING AND PROMOTIONAL SPEND
- AS A RESULT OF COVID-19 DISRUPTIONS, IDP HAS ACTED TO SECURE A$40 MILLION IN OPERATIONAL EXPENDITURE SAVINGS ACROSS NEXT SIX MONTHS
- CANCELLATION OF EMPLOYEE TRAVEL IN-LINE WITH COVID-19 RESTRICTIONS
- IDP HAS ALSO DEFERRED NON-ESSENTIAL CAPEX
- POST INITIATIVES IDP EXPECTS TO HAVE AN AVERAGE OVERHEAD RUN RATE OF ABOUT A$18 MILLION PER MONTH
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Last
$3.61 |
Change
0.050(1.40%) |
Mkt cap ! $1.004B | |||
| Open | High | Low | Value | Volume |
| $3.53 | $3.63 | $3.52 | $7.221M | 2.010M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1284 | $3.60 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.62 | 14500 | 1 |
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| Last trade - 16.10pm 01/08/2025 (20 minute delay) ? |
| IEL (ASX) Chart |