Ofcourse it was going to go down. They are selling because they need cash to support their universities. They are not selling because they suddenly have darker outlook on the IEL business. Any dip on this news is a top up opportunity as there is no fundamental reason for the SP to go down. The business performance is unaffected and in the mid to long term the business performance (Revenue, NPAT growth) is what will determine the SP.
Forget not that IDP sold a chunk of their holding in the mid 15s and the price climbed to $20 within a few months after this sale.
IEL Price at posting:
$18.71 Sentiment: Hold Disclosure: Held
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