Australia's G8 Education faces worst day in 2-1/2 years on divestment of centres

G8 Education

26/10/2023 04:00

** Shares of G8 Education  GEM.AX  down 10.9% at A$0.98, set
for worst day since March 2020 if losses hold
    ** Education services provider says signed conditional
agreement to sell 31 of its centres to TAK Operations Pty 
    ** Says total value of the centres, combined with
transaction costs and adjustments, is A$26.5 mln ($16.63 mln)
    ** About 2.3 mln shares change hands, compared with the
30-day average volume of 799,535
    ** Stock down 0.5% YTD, as of last close
 
($1 = 1.5936 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))