Logo of Ataa Educational Co.
Ataa Educational Co. issued today, June 1, the shareholders’ circular related to capital increase to acquire Naba'a Educational Co., according to a bourse filing.
On May 25, the Capital Market Authority (CMA) approved the company’s application to increase its capital from SAR 400 million to SAR 420.87 million through issuing 2.09 million ordinary shares to acquire Naba'a. The acquisition is set to be made by Ataa’s wholly-owned subsidiary, Arabian Education and Training Group.
In December 2021, the company signed a sale and purchase agreement (SPA) to acquire Naba'a through its subsidiary, Arabian Education, according to data available with Argaam.
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