Logo of Alkhaleej Training and Education Co.

Alkhaleej Training and Education Co.’s shareholders approved the board’s recommendation to increase capital from SAR 450 million to SAR 650 million via a SAR 200 million rights issue during the extraordinary general meeting (EGM) held on Nov. 3.

 

The capital increase proceeds will be used in asset acquisitions in the education sector, according to a bourse filing today, Nov. 4.

 

Details of Capital Increase 

Current capital 

SAR 450 mln 

Number of shares 

45 mln 

Capital increase percentage 

44.4% 

Capital after increase 

SAR 650 mln 

Number of shares after increase 

65 mln 
 

Rights Issue Details 

Number of shares offered 

20 mln 

Offering price  

SAR 10 per share 

Issue size 

SAR 200 mln 

Rights coefficient 

Each registered shareholder will be granted 0.44 right for every share owned 

Record date 

Shareholders who own the shares by the end of trading on the EGM date and of record by the close of trading on the second day following the EGM date 

Rights issue proceeds 

Expansion in the education sector through the acquisition of schools 

SAR 96 mln 

Partial repayment of short-term facilities 

SAR 100 mln 

Offering costs 

SAR 4 mln 
 

Shareholders also ratified amending articles 7 and 8 of the Articles of Incorporation related to capital and share offering and subscription.

 

Meanwhile, the stock daily trading fluctuation limit after its capital hike though rights issue will be based on a share price of SAR 20.86 as of today, Nov. 4, the statement added.

 

Rights will be deposited in investor portfolios on Monday, Nov. 8.

 

In October, the Capital Market Authority (CMA) approved Alkhaleej Training’s request to raise its capital through SAR 200 million rights issue, Argaam reported.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Related News

Alkhaleej Training issues prospectus for capital increase via rights issue
Alkhaleej Training EGM to vote on SAR 200 mln rights issue on Nov. 3
CMA approves Alkhaleej Training SAR 200 mln rights issue

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request