IDP Education may sell its shares in an initial public offering (IPO) in 2014. The size of the IPO, the company's potential market value, the IPO price, and number of shares to be sold were not disclosed. This was according to a report published by Business Spectator.
Seek Ltd., a jobs site that owns a 50% stake in IDP, confirmed the planned IPO in a statement to the Australian Securities Exchange (ASX). Seek did not release financial details of IDP. However, the firm said IDP has a good performance and potential for growth. Goldman Sachs Group Inc and Macquarie Group Ltd are the joint lead managers of the potential IPO, the report said.
IDP is the biggest provider of international student placement in the world. The company was formed in 1969 and began recruiting international students for Australian schools in the 1980's. The company entered a joint venture 20 years ago with the International English Language Testing System (IELTS), said the report.
IDP now provides student placement services for educational institutions in the UK, New Zealand and Canada, Business Spectator said in its report.
Join the Conversation