Page 133 - ALEF EDUCATION PR REPORT - JUNE 2024

6/7/24, 9:44 AM Abu Dhabi’s Alef Education’s ADX IPO draws $20 billion in orders, 39x oversubscription - Economy Middle East
Abu Dhabi’s Alef Education’s ADX IPO draws $20 billion in orders, 39x oversubscription
Market cap on listing seen at $2.57 billion

Alef Education completes IPO bookbuild, raising $514 million

Abu Dhabi’s Alef Education Holding announced on Thursday 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, the company set the Final Offer Price at AED1.35 per Share, at the top
end of the previously announced Offer Price Range. This implies a market
capitalization of AED9.45 billion ($2.57 billion) at the time of listing and proceeds of
AED1.89 billion ($514 million) from the offering.

Significant investor demand and oversubscription
Additionally, the IPO saw significant demand from local, regional, and international
investors. The total gross demand amounted to over AED74 billion ($20 billion),

representing an oversubscription level of approximately 39x.
Read more: Alef Education sets IPO offer price between AED1.30 and AED1.35
per share
The overwhelming investor demand demonstrates the strength of Alef Education’s

industry position, the attractive market opportunity, and the company’s unique
investment proposition.

https://economymiddleeast.com/news/abu-dhabis-alef-educations-adx-ipo-draws-20-billion-in-orders-39x-oversubscription/ 1/2