Page 134 - 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
Minimum dividend commitment
Alef Education further expects to pay a minimum dividend of AED135 million for
each of the financial years ending 31st December 2024 and 2025 to all shareholders
excluding the Selling Shareholders. This implies an annualized minimum dividend

yield of 7.1 percent based on the Final Offer Price.
The company’s shares are anticipated to begin trading on the ADX on or around 12th
June 2024.

Moreover, Geoffrey Alphonso, Alef Education’s chief executive officer, commented,
“The 39x oversubscription in our IPO reflects the appeal of our Offering and the
belief in our future growth and ability to continue advancing educational outcomes for
the communities we serve. The demand for our products and services remains high,

especially given the increasing public and private investment in education across the
MENA region.”
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