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Andrew Barkla - CEO & Managing Director, IDP Eudcation
The listing followed the successful sale of SEEK’s 50% holding in the company to public investors, which raised A$331.6 million. IDP Education’s shares were priced at A$2.65 in the IPO, which gave a market capitalisation of A$663.3 million.
Education Australia (which is owned by 38 Australian universities) continues to own the other 50% of IDP Education and was a strong supporter of the IPO.
With its 45-year history, IDP Education’s journey to the ASX began many years ago when Education Australia and SEEK started considering an IPO. A listing was considered a natural next step in the growth and development of the company’s ownership and capital structure.
In the weeks leading up to the listing, IDP CEO Andrew Barkla personally presented to more than 100 funds and investors. There was an enthusiastic response to IDP’s market position and prospects in a growing industry.
The IPO attracted strong interest from investors domestically and abroad.
In addition to IDP Education’s proud history and ethical approach to business, investors were attracted by the following investment highlights:
- IDP is a leading global provider with a broad network of offices and test centres that is difficult for a competitor to match.
- The company has built long-term relationships with high-quality education institutions and government departments.
- Strong financial results have been delivered.
- IDP has clear plans to expand each of its business lines.
- The company has an experienced global management team and Board.
Andrew Barkla said: “This is a significant milestone for IDP Education. We are now focused on executing our growth strategy and continuing to maximise our position as an established leader in the international education sector.”
The Chairman of Education Australia, David Battersby, said: “IDP Education is an Australian success story. We are very excited by the opportunities that lie ahead as a publicly listed company with an excellent shareholder base and a well-defined strategy for growth.”