NCLE deploys cSAR15mn of IPO proceeds by end-November 2018
The National Company for Learning & Education (NCLE) [4291.SE] announced that it had used cSAR15mn of its SAR232mn net IPO proceeds (gross proceeds SAR247mn). The proceeds were used as follows: cSAR14.7mn to build an educational complex in Al-Qassim (SAR59.6mn allocated for project), cSAR74.1k and SAR70k were used from the cSAR51.1mn and cSAR58.6mn allocated to establish two educational complexes in Al Khobar, respectively. Also, cSAR176k was utilised (total of cSAR51.9mn allocated) to establish Al Taraji educational complex in Dammam. The disclosure also noted SAR1.01mn in additional IPO costs, which were originally estimated at SAR15mn in the prospectus.
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