Visionary Holdings Inc. (GV) is experiencing a dramatic surge in its share price, jumping over 200% today, following the announcement of a significant investment from Saudi Arabia’s Public Investment Fund (PIF). The memorandum of understanding signed by the two entities outlines a $120 million investment, designed to comprehensively support Visionary’s ongoing expansion across a range of industries.
Founded in 2013 and headquartered in Toronto, Canada, Visionary Holdings operates six schools across Canada and owns four commercial and educational buildings in downtown Toronto, valued at over C$120 million. The PIF investment will cover debt replacement for these commercial buildings, including existing debt with the Bank of China, and facilitate investments in real estate redevelopment.
The PIF, one of the world’s largest sovereign wealth funds with assets estimated at $925 billion, has committed to supporting Visionary’s future growth through strategic investments in global acquisitions, industrial upgrades, debt optimization, and talent acquisition. The partnership extends beyond financial backing, with both parties agreeing to collaborate in high-technology, life sciences, and AI education, encompassing areas like international education and biomedical sciences.
This strategic alliance with the PIF is anticipated to significantly enhance Visionary’s brand recognition and open up new opportunities for future development. The investment is expected to drive growth in both market value and industrial expansion, propelling the company to new heights.
Visionary Holdings’ recent financial performance further underscores the company’s positive trajectory. Last month, the company reported FY24 net income of $0.97 million, a notable turnaround from a loss of $3.57 million in the previous year. Revenues also saw a healthy increase of 11.2%, reaching $9.4 million.
The company holds over 100 patents and intellectual property rights and operates wholly-owned subsidiaries in the United States, Malaysia, and China, demonstrating its global reach and innovative capabilities. The substantial investment from the PIF further solidifies Visionary Holdings’ position as a key player in the global market, poised for continued success and expansion in the years to come.
