Logo of Alkhaleej Training and Education Co.
Alkhaleej Training and Education Co. submitted today, June 30, a request for capital increase via rights issue to the Capital Market Authority (CMA).
ANB Invest was appointed as a financial advisor for the rights issue and any updates in the matter will be announced in due course, the company said in a bourse statement.
In March, the company’s board of directors recommended increasing capital to SAR 650 million from SAR 450 million via SAR 200 million rights issue, Argaam reported.
The capital hike aims to finance and implement its future plans, expand its various activities, and acquire assets in the education field.
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