Alkhaleej Training rights trading closes today

Logo of Alkhaleej Training and Education

Alkhaleej Training and Education Co.’s rights trading period ends today, Nov. 15, to increase capital from SAR 450 million to SAR 650 million, according to a bourse filing.

The rights trading period started on Nov. 8, while subscription to the new shares will close on Nov. 18.

The company intends to offer 20 million shares at SAR 10 per share, granting each registered shareholder at the record date nearly 0.44 right for each share held.

Rights issue holders are allowed to exercise their right to subscribe to new shares (in full or in part) up to the number available in their portfolios.

Details of Capital Increase
Current capital	SAR 450 mln
Number of shares	45 mln
Capital increase (%)	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
Issue size	SAR 200 mln
Rights trading period	Nov. 8-15
Subscription period	Nov. 8-18
Record date	Shareholders owning shares at the end of trading on EGM date and those registered in the shareholders’ register on the second trading 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

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