Alkhaleej Training launches IPO, rights issue

RIYADH: Alkhaleej Training Company starts its offering and tradable rights trading period as of Monday, to increase its capital from SR450 million ($119.9 million) to SR650 million ($173.2 million), Arab News reported.

The rights trading period ends on Monday, November 15, 2021, with the subscription phase continuing until Thursday, November 18, 2021.

The education and training business intends to offer 20 million shares at a price of SR10/share, and each shareholder registered in the company’s records on the due date is granted approximately 0.44 right for every single share he owns.