Raffles Education's Subsidiaries to Dispose of Stake in Hefei Yuren Education Management

MT Newswires

11/20

Raffles Education's (SGX:NR7) subsidiaries, Foodbev (Shanghai), Raffles LaSalle Education Consultancy and Shanghai Shengxin Commercial Consulting, agreed to dispose of their stake in Hefei Yuren Education Management from Hefi Heyi Education Consulting Management for 320 million yuan, according to a Wednesday filing with the Singapore Exchange.

Shares of the company were down nearly 2% in Thursday trading.

Hefei Yuren Education Management is the promoter of a China-based privately run college, Wanbo Science and Technology Vocational College.

The disposal allows the company to realize its investment and is part of the ongoing portfolio review to enhance shareholder returns.

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