SCHEDULE: GIC Private Ltd Amends New Oriental Education Stake
Beneficial Ownership Report (Schedule 13G Amendment)
GIC Private Ltd has filed an Amendment No. 3 to its Schedule 13G, disclosing a 3.93% beneficial ownership in New Oriental Education & Technology Group Inc.
Summary
- GIC Private Ltd, a Singapore-based fund manager, reported beneficial ownership of 64,347,180 common shares of New Oriental Education & Technology Group Inc.
- This ownership represents 3.93% of the issuer's common shares outstanding.
- The percentage is calculated based on 1,635,288,333 common shares outstanding as of September 16, 2024, as reported by the issuer in its Form 20-F.
- GIC Private Ltd holds sole voting and dispositive power over 49,656,918 shares.
- GIC Private Ltd shares voting and dispositive power over 14,690,262 shares with the Monetary Authority of Singapore (MAS).
Sentiment
Score: 5
Explanation: The filing is a factual disclosure of beneficial ownership, providing no positive or negative sentiment regarding the issuer's operational or financial performance.
Positives
- The continued holding by a major institutional investor like GIC Private Ltd may signal ongoing confidence in New Oriental Education & Technology Group Inc.
Risks
- The Government of Singapore (GoS), which wholly owns GIC Private Ltd, disclaims beneficial ownership of the shares managed by GIC.
Future Outlook
No forward-looking statements or guidance regarding the issuer's performance or strategy are provided in this beneficial ownership report.
Industry Context
This filing is a routine disclosure of an institutional investor's stake and does not provide insights into broader industry trends or competitive dynamics within the education technology sector.
Related Party Transactions
- GIC Private Ltd manages funds for two clients: the Government of Singapore (GoS) and the Monetary Authority of Singapore (MAS).
- GIC has sole discretion over shares managed for GoS and shares power with MAS for other securities.
- The Government of Singapore disclaims beneficial ownership of the shares managed by GIC.
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional investor's stake in the company.
Key Dates
| Date | Description |
|---|---|
| 2024-09-16 | Date of common shares outstanding calculation (1,635,288,333 shares) |
| 2024-09-25 | Date Issuer filed Form 20-F with SEC, providing shares outstanding data |
| 2025-06-30 | Date of event which requires filing of this statement |
| 2025-08-01 | Signature date for Wee Linrong, Senior Vice President of GIC Private Ltd |
| 2025-08-04 | Signature date for Wong Hui Ping, Senior Vice President of GIC Private Ltd |
Keywords
New Oriental Education & Technology Group Inc., GIC Private Ltd, Beneficial Ownership, Schedule 13G, EDU, Common Shares, Institutional Investor, Singapore, Education Technology
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