Laureate Education slides as KKR exits in share offering

Laurion Mineral Exploration

18/11/2022 12:52

** Laureate Education Inc's  LAUR.O  shares down ~1% before
the bell as secondary offering prices
    ** Online higher education co announces sale of ~32.8 mln
shares by KKR  KKR.N  at $9.75  urn:newsml:reuters.com:*:nGNXHHnX7
    ** LAUR shares tumbled 11.3% on Weds, and fell another 6.8%
on Thurs to close at $10.05 as co marketed the sale of private
equity firm's remaining 20% stake
    ** Goldman, BTIG, Loop Capital, Morgan Stanley, BMO and
Mizuho jt bookrunners for offering
    ** 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
    ** On Oct 24, co announced special cash dividend of 68
cents/sh payable on Nov 17 to holders as of Nov 4
    ** Shares down ~6% YTD through Thurs close, after hitting
intraday record high of $12.72 last week
 (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))