Alkhaleej Training extends Adhwaa Al-Hedaya acquisition deal to March 31

Logo of Alkhaleej Training and Education Co.

Alkhaleej Training and Education Co. agreed with the selling shareholder of an 80% stake in Adhwaa Al-Hedaya for Boys and Girls to extend the acquisition agreement from Dec. 31, 2024, to March 31, 2025, the company said in a statement to Tadawul. 

In September, Alkhaleej Training submitted a request to the Capital Market Authority (CMA) to increase its capital by issuing new shares for shareholders of Adhwaa Al-Hedaya, Argaam reported.

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Alkhaleej Training had sealed in March an agreement with Adhwaa Al-Hedaya's shareholders to acquire 1.6 million shares (an 80% stake) in the latter, by issuing new shares.

Alkhaleej Training will issue 22.65 million new ordinary shares, at a nominal value of SAR 10 each.