VANCOUVER, BC / ACCESSWIRE / February 12, 2019 / CIBT Education Group Inc. (TSX: MBA, OTCQX International: MBAIF) ("CIBT" or the "Company") is pleased to announce plans to seek a dual listing ("Dual Listing") on a senior stock exchange in Asia. The Dual Listing requires a series of listing application reviews, sponsorship requirements by a local licensed sponsor as well as underwriters to support the listing application. CIBT has signed a sponsorship agreement with a licensed sponsor and engaged local legal counsel to undertake a preliminary review application. The purpose of the Dual Listing is to increase the Company's liquidity, trading volume and provide expanded exposure to the international capital markets at large. If achieved, the Dual Listing will mean that the Company's common shares will be able to trade on the TSX during North American trading hours and then again trade during Asian trading hours.
"In 2018, the Hong Kong Stock Exchange ("HKSE") and the Shanghai Stock Exchange were two of the five largest stock exchanges in the world based on trading volume. According to Thomson Reuters, HKSE's main board had a 17.6 percent share of the global IPO market in 2018 with 125 companies listed raising US$36.5 billion, as compared to the New York Stock Exchange which saw 64 IPOs raising US$28.9 billion, accounting for 13.9 percent of the global IPO market. With a 175.5 percent increase from 2017, the HKSE became the No. 1 IPO market in the world in 2018 (source 1)," commented Toby Chu, Chairman, President and Chief Executive Officer of CIBT. "Based on our plan of continuing to expand our rapidly growing student housing portfolio and the overwhelming demand of international students coming to Canada, we feel CIBT Education Group is now ready for a dual listing in Asia. By doing so, we will open up our shares to an investor base that are currently paying higher valuation multiples for premium education and student housing focused assets.
"According to a report published by McKinsey Consulting (source 2), China's upper-middle income population is projected to reach a staggering 520 million people by 2025, an economic figure we should not overlook easily," continued Toby Chu. "This growing population and the Asian investment culture, in general, have historically been proponents of education and real estate sectors.
"Our education platform makes CIBT one of the largest education companies in Canada, and Canada represents diversity and quality education in the global education market. Our offering of a unique investment opportunity that blends education supported by significant real estate income and assets into one identity, we believe, will be an attractive investment option to a growing population of over 500 million middle-upper income earners."
Source 1: https://www.scmp.com/business/companies/article/2179283/hong-kong-easily-regains-2018-global-ipo-crown-new-york-thanks
Source 2: https://www.mckinsey.com/featured-insights/china/the-value-of-emerging-middle-class-in-china
About CIBT Education Group:
CIBT Education Group Inc. is one of the largest education, and student housing investment companies in Canada focused on the global education market since 1994. Listed on the Toronto Stock Exchange and U.S OTCQX International, CIBT owns business and language colleges, student housing properties, recruitment centres and corporate offices at 43 locations in Canada and abroad. Total annual enrollment for the group exceeds 12,000 students. Its education providers include Sprott Shaw College (established in 1903), Sprott Shaw Language College, Vancouver International College and CIBT School of Business. Through these schools, CIBT offers business and management programs in healthcare, hotel management, language training, and over 150 career, language and vocational programs. CIBT owns Global Education City Holdings Inc., an investment holding and development company focused on developing education-related real estate such as student hotels, serviced apartments and education super centres. Total portfolio and development budget of projects under the GEC® brand is more than C$1 billion. CIBT also owns Global Education Alliance ("GEA") and Irix Design Group ("Irix Design"). GEA recruits international students on behalf of many elite kindergartens, primary and secondary schools, colleges and universities in North America. Irix Design is a leading design and advertising company based in Vancouver, Canada. Visit us online and watch our corporate video at www.cibt.net.
Toby Chu
Chairman, President & CEO
CIBT Education Group Inc.
Investor Relations Contact: 1-604-871-9909 extension 318 or | Email: info@cibt.net
FORWARD-LOOKING STATEMENTS
Some statements in this news release contain forward-looking information (the "forward-looking statements") about CIBT Education Group Inc. and its plans. Forward-looking statements are statements that are not historical facts and in this news release include, without limitation, statements as to the Company's plans for a Dual Listing. The forward-looking statements are subject to various risks, uncertainties and other factors that could cause CIBT's actual results or achievements to differ materially from those expressed in or implied by forward-looking statements, including but not limited to satisfying all necessary listing requirements of the applicable stock exchange in Asia and obtaining all necessary regulatory approvals. Forward-looking statements are based on the beliefs, opinions and expectations of CIBT's management at the time they are made, and CIBT does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances should change, except as may be required by law.
SOURCE: CIBT Education Group Inc.
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