Riyadh – Mubasher: National Company For Learning & Education unveiled plans to list a 30.23% stake, or 13 million shares, on the Saudi Stock Exchange (Tadawul).
The initial public offering (IPO) for institutional investors will start on Monday, 1 October until Thursday, 11 October, while the offering for individuals will begin on Monday 22 October until Sunday 28 October, according to the firm's statement.
The Saudi education company has indicated that it will use the offering proceeds to establish four school complexes in the Eastern Province and Al-Qassim Region.
Alinma Investment was selected to be the bookrunner and lead manager of the share sale.
National Company For Learning’s capital amounts to SAR 300 million, while its main activity focuses on owning and building private schools, in addition to investing in sports, recreation, and sports clubs for school students.
Before implementing the IPO, the firm’s chairman, Mohammed bin Ibrahim Al Khudair, owns 70.39% stake.
In May, the Saudi Capital Market Authority (CMA) approved the company's IPO for 13 million shares, representing a 30.23% stake.
