Saudi: Academy of Learning pens joint deal with Bnyan Training

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Riyadh – Academy of Learning Company inked a joint cooperation contract with Bunyan Training Company on 9 June 2024, according to a bourse filing.

The agreement marks the first step of several subsequent projects between the two companies. It also aligns with the Tadawul-listed firm’s strategic growth and expansion plans to provide more of its eminent services across the Kingdom.

The deal holds a tenor of five years, with the first phase being for a period of one and a half years at a value of SAR 6 million. Meanwhile, the value of the following phases will be determined at a later time.

Academy of Learning expected that this contract will have a positive impact on its financial results starting from the second half (H2) of 2024.

In May, the listed company obtained the approval of the Capital Market Authority (CMA) to increase its capital to SAR 90 million from SAR 60 million.