South Africa’s largest for-profit independent school group, Curro Holdings, this week listed its tertiary education business, Stadio Holdings, on the Johannesburg Stock Exchange (JSE).
Stadio, a subsidiary of Curro, which came to market following Curro's decision to unbundle its tertiary education businesses, says it intends to raise up to R640 million by way of a rights offer - issuing 256 million shares at a subscription price of 250 cents per share.
Dr Chris van der Merwe, Stadio CEO, has been quoted as saying, "Our country needs to accommodate another million students in higher education if it wants to compete with global trends. In this regard we believe that Stadio can grow over time from the current 13,000 students to more than 100,000 students and in doing so provide South Africa with well qualified and equipped citizens who can help this country to achieve acceptable economic growth levels once again."
