Logo of Ataa Educational Co.

Ataa Educational Co.’s shareholders approved a capital increase via issuing 2.09 million new shares to acquire Naba'a Educational Co., according to a bourse filing.

 

Capital Increase Details

Current Capital

SAR 400 mln

Number of Shares

40 mln

Number of New Shares

2.09 mln

Increase Percentage

5.2%

New Capital

SAR 420.87 mln

Shares after Increase

42.09 mln

Reason

Issuing shares in favor of Naba’a shareholders in return for transferring all shares of Naba’a to Arabian Education and Training Group Holding, a wholly-owned subsidiary of Ataa.  

Method

Issuing new shares

New Shares to Capital

4.96%
 

Shareholders authorized Ataa’s board of directors to take the relevant necessary measures.

 

Ataa signed on Dec. 13, 2021, a sale and purchase agreement (SPA) to acquire Naba'a Educational through its wholly-owned subsidiary, Arabian Education and Training Group Holding Co.

 

Ataa said it would increase its capital by 5.22% to acquire Naba’a, which was valued at SAR 92.01 million, Argaam reported.

 

Deal Details

Target Company

Naba'a Educational Co.

Acquisition Value

SAR 92 mln

Ataa Educational Value

SAR 2.572 bln based on a stock price of SAR 64.30

Ataa’s Capital before Increase

SAR 400 mln

Number of Shares

40 mln

Capital Increase

2.09 mln shares

Capital after Increase

SAR 420.87 mln

Number of Shares after Increase

42.09 mln

Acquisition Percentage

100%
 
 

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