Alkhaleej Training gets CMA's nod on SAR 200 mln capital hike via rights issue

Logo of Alkhaleej Training and Education Co.

The Capital Market Authority (CMA) gave the go-ahead for Alkhaleej Training and Education Co. to proceed with its capital increase through SAR 200 million rights issue.

Shareholders of record at the Securities Depository Center (Edaa) by the close of the second trading day after the extraordinary general meeting (EGM) will be eligible for the rights issue, the authority said in a statement.

The date of the meeting will be determined by the company's board of directors later, while the offering price and the number of shares to be offered for subscription will be determined by the company by the close of trading on the EGM date.

The rights issue prospectus will be posted and made available to the public at a later time, the statement added.

On June 30, the company submitted a request to increase capital from SAR 450 million to SAR 650 million through a SAR 200 million rights issue to the Saudi market regulator, Argaam reported.