Page 102 - ALEF EDUCATION PR REPORT - JUNE 2024
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Alef Education Holding's Historic Listing On ADX
Ushers In New Era For EdTech
By OneArabia
Shares of Alef Education Holding plc commenced trading on the Abu Dhabi Securities
Exchange (ADX) today, marking a significant milestone as the first EdTech company to be
listed on the ADX and the first public listing on the Exchange in 2024. The market opening
bell was rung by Abdulhamid Mohammed Saeed Alahmadi, Chairman of Alef Education's
Board of Directors, and Geoffrey Alphonso, Chief Executive Officer of Alef Education.
The official listing ceremony was attended by Ghannam Butti Almazrouei, ADX's Chairman,
and Abdulla Salem Alnuaimi, ADX's Chief Executive Officer. The event also saw the
presence of Alef Education's board members and senior executives from both Alef
Education and ADX.
Alef Education shares began trading following a successful public offering that raised
AED1.89 billion through the sale of 1.4 billion shares, representing 20% of the company, at
AED1.35 per share. At the time of listing, the Group's market capitalisation stood at
AED9.45 billion.
The IPO garnered strong interest from investors, with the offering being 39 times
oversubscribed even after increasing the retail tranche from 8% to 10%. This robust
https://www.onearabia.me/business/alef-education-holding-lists-on-adx-011-43015.html
