Alkhaleej Training rights trading closes today

15/11/2021 Argaam Special

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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