This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Noah Education Receives Final Installment For ELP Business

SHENZHEN, China, Oct. 12, 2011 /PRNewswire-Asia/ -- Noah Education Holdings Ltd. (NYSE: NED) ("Noah" or "the Company"), a leading provider of education services in China, today announced that it has received the final installment of RMB30 million, representing 30% of the total purchase price of RMB100 million, net of certain price adjustments pursuant to the acquisition agreement, for the sale of its Electronic Learning Products ("ELP") business and operating assets to First Win Technologies Ltd. ("First Win"), a company wholly owned by Noah co-founder, former President and Chief Operating Officer Mr. Benguo Tang. The Company completed the sale of its ELP business on June 9, 2011.

Chief Executive Officer Jerry He said, "The completion of the sale of the ELP business heralds the start of an exciting new chapter in Noah's history, as we can now focus exclusively on extending our track record of profitable growth within the education services space. China's rapidly growing, fragmented and underpenetrated education services market provides a wealth of opportunities for Noah to leverage its extensive industry expertise and healthy cash balance to continue to achieve organic and acquisitive growth within this stable, high-margin and high-visibility segment."

About Noah Education Holdings Ltd.

Noah is a leading provider of education services in China. The Company's brands include Wentai Education, which operates and manages high-end kindergartens, primary and secondary schools, Little New Star, which provides English language training for children aged 3-12 in its directly owned and franchised kindergartens and training centers, and Yuanbo Education operates premium kindergartens under the Qingan brand. Noah was founded in 2004 and is listed on the New York Stock Exchange under the ticker symbol NED. For more information about Noah, please visit

Contact: Noah Education Holdings Ltd. L e a WuT: +86 (755) 82889128E:

Fleishman-HillardT: +852 2530 0228E:

SOURCE Noah Education Holdings Ltd.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,852.26 +62.07 0.37%
S&P 500 1,993.23 +13.31 0.67%
NASDAQ 4,782.5220 +34.1610 0.72%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs