Logo of Alkhaleej Training and Education
Alkhaleej Training and Education Co.’s rights trading period ends today, Nov. 15, to increase capital from SAR 450 million to SAR 650 million, according to a bourse filing.
The rights trading period started on Nov. 8, while subscription to the new shares will close on Nov. 18.
The company intends to offer 20 million shares at SAR 10 per share, granting each registered shareholder at the record date nearly 0.44 right for each share held.
Rights issue holders are allowed to exercise their right to subscribe to new shares (in full or in part) up to the number available in their portfolios.
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Details of Capital Increase |
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Current capital |
SAR 450 mln |
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Number of shares |
45 mln |
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Capital increase (%) |
44.4% |
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Capital after increase |
SAR 650 mln |
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Number of shares after increase |
65 mln |
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Rights Issue Details |
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Number of shares offered |
20 mln |
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Offering price |
SAR 10 |
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Issue size |
SAR 200 mln |
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Rights trading period |
Nov. 8-15 |
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Subscription period |
Nov. 8-18 |
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Record date |
Shareholders owning shares at the end of trading on EGM date and those registered in the shareholders’ register on the second trading day following the EGM date |
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Rights issue proceeds |
Expansion in the education sector through the acquisition of schools |
SAR 96 mln |
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Partial repayment of short-term facilities |
SAR 100 mln |
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Offering costs |
SAR 4 mln |
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