Business
Here’s why the IDP Education (ASX:IEL) share price sank 6% today
The IDP Education Ltd (ASX: IEL) share price came under pressure on Thursday afternoon and sank notably lower.
The student placement and language testing company’s shares ended the day almost 6% lower at $22.86.
Why did the IDP Education share price tumble lower?
Investors were hitting the sell button this afternoon after the company released an update on the Education Australia shareholding.
According to the release, following a period of consultation, the Board of Education Australia has entered into an agreement with The British Council and the University of Cambridge regarding a restructure of its shareholding in IDP Education.
Under the restructure, Education Australia will deal with its 40% shareholding in IDP Education by…
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