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December 17, 2020 | 12:04 am Font Size
STI.EDU
A SUBSIDIARY OF STI Education Systems Holdings, Inc. has sold 20% of its equity in Maestro Holdings, Inc. (MHI) to Chita SPC Ltd., in efforts to mitigate the volatility in its future earnings.
In a disclosure to the stock exchange, STI announced that its subsidiary, STI Education Services Group, Inc., has sold part of its equity to Chita SPC, a segregated portfolio company based in the British Virgin Islands.
“The sale will allow STI ESG to monetize its investment in MHI which STI ESG intends to use for its core business,” the disclosure said.
The transaction included the sale of 1.28 million shares and is priced at $7.80 per share. The amount received was $10 million.