Stock Track | Greentown Service Shares Tumble as Unit Divests Stake in Education Firm

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Shares of Greentown Service Group Co. Ltd. plummeted 5.24% on November 11th, following news that its subsidiary, Greentown Education Investment, agreed to sell a significant stake in Montessori Academy Group Holding.

According to a filing on the Hong Kong Stock Exchange, Greentown Education Investment will sell an 11.64% interest in Montessori Academy Group Holding to Montessori Academy, which is acting as a trustee for the Montessori Academy Trust, for AU$16.2 million. Additionally, Greentown Education Investment agreed to sell its remaining 10.78% shares in Montessori Academy Group Holding back to the latter for AU$15 million.

Upon completion of these inter-conditional disposals, Greentown Education Investment will retain only a 35% equity interest in Montessori Academy Group. Investors appear to be concerned about the potential impact of this divestment on Greentown Service Group's overall financial performance and future growth prospects in the education sector.

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