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Mar. 2 (NBD) – China's leading private higher education provider Hope Education Group Co Ltd (01765.HK) announced on Monday it has conditionally agreed to purchase the entire issued share capital held by Exeter Street Holdings Sdn. Bhd in Inti Education Holdings Sdn. Bhd. ("Inti Education") at the consideration of 140 million U.S. dollars.

Inti Education and its subsidiaries constitute one of the largest private higher education service providers in Malaysia in terms of student enrollment with over 16,500 students. They are principally engaged in the operation of one university and five colleges in Malaysia. 

Shares of Hope Education jumped 6.98 percent to close at 1.84 Hong Kong dollars on Monday. 

Through the acquisition, Hope Education expects to enhance the geographic reach of its school network, diversify its education offerings and leverage on the leading position of Inti Education in the private higher education market in Malaysia to maintain its profit growth and long-term business sustainability. 

Upon completion of the transaction, Inti Education will become a wholly-owned subsidiary of Hope Education. In the year ended December 31, 2019, Inti Education and its subsidiaries reported revenue of 480 million yuan and net profit after tax of around 33 million yuan.

Email: gaohan@nbd.com.cn