Australia's NextEd falls on estimated lower 2025 international student admissions
11/09/2024 04:52
** Shares of NextEd Group NXD.AX fall as much as 23.3% to
A$0.115, marking their worst day since Feb. 26
** Stock hits highest level since Aug. 28
** Educational services provider says Department of
Employment and Workplace Relations (DEWR) has informed co of
proposed new international student commencements caps for 2025
** Caps in relation to the Federal Government’s proposed
introduction of international student visa holder commencement
limits
** Co says cap on higher education international student and
vocational commencements represents a 42% and 45% reduction
respectively on its 2023 figures
** Says international students contributed to 30% of co's
higher education revenues and about 68% of vocational revenues
(excluding English language courses)
(Reporting by Sneha Kumar in Bengaluru)
((Sneha.Kumar@thomsonreuters.com;))