Riyadh – Mubasher: Ataa Educational Company has signed an agreement for its subsidiary the Arabian Education and Training Group Holding Company to wholly acquire Naba'a Educational Company.
As part of the agreement, Ataa will raise its capital by 5.22% to SAR 420.87 million from SAR 400 million by issuing new shares for Naba'a's shareholders, according to a bourse filing on Tuesday.
The transaction is subject to the approval of the Capital Market Authority (CMA), Ataa's extraordinary general meeting (EGM), and the Saudi Stock Exchange (Tadawul).
