The University of Canterbury has partnered with ASX-listed Navitas as part of its strategy to double the percentage of foreign students enrolled to study.
No financial details of the five-year agreement were provided. Perth-based Navitas and the university will establish a new entity called UC International College, to recruit and prepare international students for study at the university. The new college will open in late 2013.
Navitas offers pre-university and "university pathway" programmes from 30 colleges in Australia, the UK, the US, Canada, Singapore, Sri Lanka and Africa, according to its statement to the ASX.
Vice-chancellor Rod Carr said lifting the international student population was "a key strategic development for the university this year."
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"This deal with Navitas is one contribution by UC to widen efforts to boost the number of international students who choose to further their studies in Christchurch and shows our support for the recovery of Christchurch and the economic recovery of the Canterbury region," Carr said.
Enrolments at Canterbury tumbled after the Christchurch earthquakes. The government has a goal of lifting the ratio of foreign undergraduates in New Zealand to 15 per cent from 8 per cent within 10 years.
Shares of Navitas were unchanged at A$4.77 on the ASX today and have gained 31 per cent in the past 12 months. The stock is rated a 'hold' based on the consensus of 11 recommendations compiled by Reuters.