Page 130 - ALEF EDUCATION PR REPORT - JUNE 2024

per cent. Following the completion of the IPO, the selling shareholders, Tech

Nova Investment – Sole Proprietorship L.L.C and Kryptonite Investments L.L.C,
will retain shareholdings of 68 per cent and 12 per cent, respectively.

Investors who subscribed through the first franche will receive an SMS
confirmation of their respective allocation on June 11, with refunds due to

commence from the same date.

Alef Education’s IPO marks another milestone not just for the company but

also for the UAE’s thriving IPO market, which is witnessing remarkable
growth in 2024. The overwhelming demand for Alef’s shares underscores
investors’ confidence in the company’s vision and potential. It’s evident that

Alef Education has captured the attention of investors seeking opportunities
in the education technology sector. Alef’s subscription figures, even though
relatively lower compared to recent IPOs like Spinneys and Parkin, are
substantial, echoing the fervent investor interest seen across various
offerings,” Vijay Valecha Chief Investment Officer Century Financial, told

Khaleej times.

Investors can expect Alef’s shares to surge higher as the current price of
Dh1.35 “implies a PE multiple of a mere 20x”, Valecha said. Being an ED tech
company with an asset-light model, Alef should ideally command a higher

premium, he added.

While EdTech may be considered a niche sector, Alef Education’s strong
demand underscores its pivotal role in shaping the future of education and
technology integration. “As the shares are set to commence trading on the
Abu Dhabi Stock Exchange under the ticker symbol “AlefEdT,” Alef Education

is poised to lead the charge in driving innovation and transformation within
the education landscape, contributing to the UAE’s ongoing evolution as a
hub for investment and innovation,” Valecha said.

https://www.khaleejtimes.com/business/markets/uae-alef-education-completes-ipo-bookbuild-
raising-dh1-89-billion