Page 137 - ALEF EDUCATION PR REPORT - JUNE 2024
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Abu Dhabi edtech firm Alef’s IPO draws
$20bn in orders
The shareholders are offering 1.4 billion shares, equivalent to
20 per cent of the company’s total issued share capital
BY KUDAKWASHE MUZORIWA
JUNE 6, 2024
Image credit: WAM
Abu Dhabi-based Alef Education said on Thursday that it had attracted $20bn
(Dhs74bn) in orders for its initial public offering (IPO) on the local bourse,
amid strong investor appetite for listings in the GCC region.
Alef’s shareholders – Tech Nova Investment – Sole Proprietorship and
Kryptonite Investments – priced the IPO at the top of the range, selling its
shares at Dhs1.35 apiece to raise $514m (Dhs1.89bn).
https://gulfbusiness.com/alefs-515m-ipo-oversubscribed-39-times/
