Page 120 - ALEF EDUCATION PR REPORT - JUNE 2024

UAE: Alef Education prices IPO at

top end of range

ByNick Herbert

7th June 2024

Alef Education Holding, an AI-powered learning solutions provider based in Abu Dhabi, has
priced its IPO at the top end of the range. The final offer prices was set at AED1.35 per
share to raise AED1.89bn (US$514m) and valuing the company at AED9.45bn. It is floating
20% of the company.

Alef’s IPO is first-ever education technology company to be listed in the UAE.

Pricing followed a heavily oversubscribed bookbuilding process which drew total gross
demand of over AED74bn, implying an oversubscription level of approximately 39x in
aggregate. Demand came from a broad range of local, regional, and international investors
and “demonstrates the strength of Alef Education’s industry position, the market opportunity
on offer and the company’s unique investment proposition”.

In 2023, the company reported revenues of AED750m and EBITDA of AED489m – an
EBITDA margin of 65%.

https://www.investorsinhealthcare.com/articles/category/news/uae-alef-education-prices-ipo-at-
top-end-of-range/