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.
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Capital Increase Details |
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Current Capital |
SAR 400 mln |
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Number of Shares |
40 mln |
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Number of New Shares |
2.09 mln |
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Increase Percentage |
5.2% |
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New Capital |
SAR 420.87 mln |
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Shares after Increase |
42.09 mln |
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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. |
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Method |
Issuing new shares |
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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.
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Deal Details |
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Target Company |
Naba'a Educational Co. |
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Acquisition Value |
SAR 92 mln |
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Ataa Educational Value |
SAR 2.572 bln based on a stock price of SAR 64.30 |
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Ataa’s Capital before Increase |
SAR 400 mln |
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Number of Shares |
40 mln |
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Capital Increase |
2.09 mln shares |
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Capital after Increase |
SAR 420.87 mln |
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Number of Shares after Increase |
42.09 mln |
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Acquisition Percentage |
100% |
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