Saudi PIF Backs Visionary Holdings with $120 Million Investment: A Big Boost for AI, Education, and Real Estate Why Visionary Holdings Shares Are Rising Today – Visionary Holdings (NASDAQ:GV)

Visionary Holdings Inc. GV The company’s shares soared today after it was revealed that a memorandum of understanding had been signed with Saudi Arabia Public Investment Fund (PIF) for an investment of $120 million, which will fully support the development of various industrial projects.

Visionary was founded in August 2013 and is based in Toronto, Canada. It operates six schools in Canada and owns four commercial and educational buildings in downtown Toronto, valued at over $120 million Canadian.

This includes paying down the debt on Visionary’s four commercial buildings (including the debt to Bank of China) and investing in property redevelopment.

Saudi Arabia’s PIF is one of the world’s largest wealth funds, with assets estimated at $925 billion.

PIF plans to continue to support Visionary’s future growth through investments in global acquisitions, industry modernization, debt optimization and talent pools.

The two sides also agreed to cooperate in education in advanced technologies, biological sciences and artificial intelligence, including areas such as international education and biomedical sciences.

The partnership with PIF is expected to strengthen the Visionary brand and create a strong opportunity for future growth, driving market value growth and industrial expansion.

Last month, Visionary Holdings reported fiscal 2024 net income of $0.97 million, compared with a loss of $3.57 million in the prior year. Revenue rose 11.2% to $9.4 million.

The company owns over 100 patents and intellectual property rights and has wholly owned subsidiaries in the United States, Malaysia and China.

Price action:GV shares were up 202% to $6.13 as of last check on Thursday.

Photo: Shutterstock/MD Duran