Education Australia (ASX:IEL) explores options to support COVID-hit Australian universities

Company News

by Michael Luu

International study facilitator IDP Education (ASX:IEL) has received notification from parent company Education Australia about discussions with 38 university shareholders about capital realisation options.

IDP recognises that COVID-19 has severely impacted the revenue of the Australian education sector, particularly institutions that rely on income from international students.

This is a bid to explore assistance options for Education Australia’s shareholders.

Education Australia had already reduced its ownership of shares in IDP by 5.5 per cent.

Shares in IDP Education are trading 5.36 per cent lower at $19.07.