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6/7/24, 9:31 AM ‘Alef Education’ completes IPO bookbuild, raising AED1.89 billion | Emirates News Agency
‘Alef Education’ completes IPO
bookbuild, raising AED1.89 billion
Thursday, June 6, 2024 1:23 PM • 2 minutes Reading
ABU DHABI, 6th June, 2024 (WAM) -- Alef Education
Holding on Thursday announced the successful
completion of the bookbuild and subscription process
for its Initial Public Offering (IPO) on the Main Market of
the Abu Dhabi Securities Exchange (ADX).
In a statement today, the company unannounced the
Final Offer Price at AED1.35 per Share, at the top end of
the previously announced Offer Price Range, implying a
market capitalisation at the listing of AED9.45 billion
(US$2.57 billion) and resulting in offer proceeds of
AED1.89 billion (US$514 million).
The Offering saw significant demand from local,
regional, and international investors, with total gross
demand for the IPO amounting to over AED74 billion
(US$ 20 billion), implying an oversubscription level of
approximately 39x in aggregate.
The overwhelming demand from a broad range of
investors demonstrates the strength of Alef Education's
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