Alkhaleej Training seeks CMA approval on capital hike via new shares issue

Logo of Alkhaleej Training and Education Co.

Alkhaleej Training and Education Co. submitted a request to the Capital Market Authority (CMA) to increase its capital by issuing new shares for shareholders of Adhwaa Al-Hedaya Private Schools, the company said in a statement to Tadawul.

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In March, Alkhaleej Training sealed an agreement with Adhwaa Al-Hedaya's shareholders to acquire 1.6 million shares (an 80% stake) in the latter, by issuing new shares to Adhwaa Al-Hedaya's shareholders, Argaam’s data showed.

Alkhaleej Training will issue 22.65 million new ordinary shares, at a nominal value of SAR 10 each.