Visionary Education Technology (NASDAQ:VEDU) stock soared nearly 20% on Thursday following news of a partnership with Canada’s Camosun College to provide educational services to Chinese students.
Shares of the Canadian Education Company opened at $1.51, recently changing hands at $1.76, up 19%, around 10:40 p.m. ET.
On Wednesday, Visionary said it had entered into a memorandum of understanding with Camosun, a public college based in British Columbia, to provide services to international students.
As part of the deal, Visionary’s Farvision unit will set up a preparatory school program in China where students can take Camosun classes for a year before enrolling at the college campus in Vancouver. After completing a degree program at Camosun, students may transfer to another BC post-secondary school to continue their education.
The Visionary shares have been volatile since making their market debut through a $17 million initial public offering on May 17, closing 525% higher than the offering price of $4 per month. stock. The shares plunged the following session and have been trading below their IPO price since May 20.
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