Educomp sells but budget puts deals on hold

08 Jul 2009

Educomp Solutions, India’s biggest education provider, sold 1.62m new shares overnight on Tuesday, overcoming poor market sentiment in the aftermath of Monday’s disappointing budget statement to raise Rp6.1bn ($125m) in an institutional placement.

Educomp priced the qualified institutional placement (QIP) at Rp3,745, matching the Sebi-set floor price and ...

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