The 38 Australian universities that are sitting on huge profits at ASX-listed IDP Education plan to sell a $1 billion block of shares in coming months.
The unis, which together own 40 per cent of tearaway IDP Education via an entity called Education Australia, flagged that they would seek to sell a 15 per cent stake via a block trade and distribute the other 25 per cent of shares among the unis.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
Tim Boyd is a journalist, based in Sydney, who writes for the Street Talk column. Connect with Tim on Twitter. Email Tim at tim.boyd@afr.com
