February 26, 2010 (FinancialWire) — Noah Education (NYSE: NED) said that it has completed a block trade to repurchase its ADSs from Lehman Brothers Bankhaus AG.

Noah executed a block trade prior to the US market open on February 24, 2010 to repurchase 656,400 ADSs at $4.00 per share, for a total consideration of $2,625,600.

In conjunction with this trade, multiple institutional buyers also purchased from Lehman Brothers an aggregate of 1,273,600 ADSs at $4.00 per share, for an additional consideration of $5,094,400.

Noah said its decision to initiate this repurchase stemmed from its awareness that Lehman Brothers has recently been liquidating its equity stake in Noah, which has resulted in pressure on its valuation.

China-based Noah Education Holdings is a provider of interactive educational content and education services in China.

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