Alkhaleej Training EGM to vote on SAR 200 mln rights issue on Nov. 3

Logo of Alkhaleej Training and Education Co.

Alkhaleej Training and Education Co. scheduled an extraordinary general assembly meeting (EGM) on Nov. 3 to vote on the board of directors’ recommendation to increase to capital through SAR 200 million rights issue. 

In a statement to Tadawul, the company said the aim of the capital increase is to acquire assets in the education sector. It plans to raise capital by offering and listing 20 million ordinary shares via rights issue. 

If approved, eligible shareholders will include those holding shares on the EGM date and those registered at the Securities Depository Center (Edaa) at the end of the second trading day following the EGM. 

Earlier this month, the Capital Market Authority (CMA) approved Alkhaleej Training request to raise its capital through SAR 200 million rights issue. 

The company's current capital is SAR 450 million and following the increase it will become SAR 650 million divided into 65 million shares. 

For More IPOs