Alkhaleej Training issues prospectus for capital increase via rights issue

Logo of Alkhaleej Training and Education Co.

Alkhaleej Training and Education Co. issued today, Oct. 11, the prospectus for its planned capital hike through SAR 200 million rights issue on the Capital Market Authority’s (CMA) website, according to a bourse statement.

Earlier this month, the Capital Market Authority (CMA) approved Alkhaleej Training’s request to raise its capital, Argaam reported.

The company scheduled an extraordinary general assembly meeting (EGM) on Nov. 3 to vote on the board of directors’ recommendation of capital increase.

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 date of the EGM, and of record by the close of trading on the second day following the EGM date
Use of rights issue proceeds	Expansion in the education sector through the acquisition of schools	SAR 96 mln
	Repayment of a part of short-term facilities	SAR 100 mln
	Offering costs	SAR 4 mln

For More IPOs

prospectus for capital increase

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