Alkhaleej Training board recommends capital hike via SAR 200 mln rights issue

A branch of Alkhaleej Training and Education Co.

Alkhaleej Training and Education Co.’s board of directors recommended today, March 30, 2021, increasing capital via a SAR 200 million rights issue.

The capital hike aims to finance and implement its future plans, expand its various activities, and acquire assets in the education field, the firm said in a bourse filing.

Shareholders holding shares on the date of the extraordinary general meeting (EGM), in which capital increase through the issuance of rights issues will be discussed, and whose names appear in the register of shareholders at the Securities Depository Center Co. (Edaa) at the end of the second trading day following the EGM date will be eligible for the offering.

The capital hike is subject to approvals from Saudi Central Bank (SAMA), Capital Market Authority (CMA), and other regulatory authorities, in addition to the EGM.

The insurer appointed Arab National Investment Co. (ANB Invest) as a financial advisor.

An announcement will be made in due course once the company submits the capital hike request for approval with the CMA.

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