(Yicai Global) March 2 -- Shares in Hope Education Group have soared nearly 7.6 percent today after the Chinese education investor unveiled plans to buy a university and five colleges in Malaysia for USD140 million.

The Sichuan province-based company's stock [HKG:1765] sat percent higher at HKD1.85 (24 US cents) as of 3.42 p.m.

Subsidiary Hope Education Group Hong Kong plans to buy all shares in Inti Education Holdings from its owner Exeter Street Holdings, the buyer's parent said in a statement today. The target has 16,500 students total, with each paying an average CNY30,000 (USD4,290) a year in tuition.

Inti is one of Malaysia's largest private higher education service providers by student count, and its six institutions are on the Chinese Ministry of Education's white list of education-related foreign affairs. They also meet requirements laid out between the two countries for the cross-border recognition of credentials.

The acquisition will help Hope Education Group expand its school network territory and diversify its education services, the statement added, saying Hope will leverage Inti's leading role in the market to increase profitability and sustainability.

Editor: James Boynton