Laureate Education tumbles as KKR to shed remaining stake

Laureate Education

16/11/2022 15:18

** Laureate Education Inc's  LAUR.O  shares down 15.6% at
$10.26, on track for biggest pct drop since Mar 2020, after co
announces secondary offering
    ** KKR  KKR.N  to sell ~32.8 mln shares, remaining ~20%
holdings in online higher education firm  urn:newsml:reuters.com:*:nGNX68rF73
    ** Goldman, BTIG, Loop Capital Markets, Morgan Stanley, BMO
and Mizuho jt bookrunners for offering slated to price Weds
after the bell
    ** Prior to offering launch, LAUR shares had gained ~20%
over the past month, and hit intraday record high of $12.72 last
Thurs
    ** On Nov 3, co posted Q3 beat as rev rose 12% yr/yr to $301
mln, citing strong new enrollment trends in both Mexico and Peru
 urn:newsml:reuters.com:*:nGNXbf87KR
    ** On Oct 24, co announced special cash dividend of 68
cents/sh payable to holders as of Nov 4, and to be paid on Nov
17  urn:newsml:reuters.com:*:nPn62LNK8a
    ** With move the session, LAUR shares down ~4% YTD for about
$1.7 bln market cap
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))