MENU

Here’s what happened to the G8 Education Ltd share price today

The G8 Education Ltd (ASX: GEM) share price has recovered most of its losses from earlier this morning after it emerged from an extended trading halt.

A childcare centre operator, G8 Education first entered a trading halt on Wednesday last week citing problems with receiving money promised to it by CFCG Investment Partners International. While the investor successfully completed the first tranche (reaping G8 Education $63.8 million), the group missed the second and final payment of $149 million.

It has since agreed to pay G8 Education a fraction of that amount — just $31.8 million — with G8 Education electing to raise another $100 million by way of an institutional placement of shares instead.

Source: Google Finance

Shortly after opening this morning, the G8 Education share price plunged as much as 9.6% to $3.12. However, it has since rebounded to $3.37, representing an intraday decline of just 2.3%.

Other shares that have fallen sharply today include Fortescue Metals Group Limited (ASX: FMG), down 4.9%, and St Barbara Ltd (ASX: SBM), down 6.2%.

1 Massive Dividend Stock to Buy Today (7.9% Current Gross Yield!)

FREE REPORT! Click here to discover the Motley Fool's #1 ASX dividend recommendation - currently paying a 7.9% gross yield!

Even better, this 'under the radar' consumer play is growing like gangbusters. Shares have rocketed 100% in the last 5 years, DOUBLING shareholders' investment. So what's not to like?

Simply click here to grab your free copy of this up-to-the-minute research report right now.

Motley Fool contributor Ryan Newman has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.