Page 167 - ALEF EDUCATION PR REPORT - JUNE 2024

6/7/24, 9:48 AM PRESSR: Alef Education Holding plc successfully completes IPO bookbuild, raising AED 1.89bln with approximately 39x oversubsc…
demand for our shares has ensured a successful IPO process. We now look

forward to onboarding our new shareholders, including local retail

investors who make up a core and important element of our Offering and

shareholding going forward.”

Final Offer Price Details

The Final Offer Price has been set at AED 1.35 per Share, at the top end

of the previously announced Offer Price Range, implying a market

capitalisation at listing of AED 9.45 billion (US$ 2.57 billion) and resulting

in offer proceeds of AED 1.89 billion (US$ 514 million).

The Company and Selling Shareholders confirm the Offering size of

1,400,000,000 Shares, equivalent to 20% of the Group’s issued share

capital. Based on the Final Offer Price, and upon listing, the annualised

dividend yield to all other shareholders (other than the Selling

Shareholders) will be a minimum of 7.1%. 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%

and 12%, respectively.

The overwhelming demand from a broad range of investors, demonstrates

the strength of Alef Education’s industry position, the market opportunity

on offer and the Company’s unique investment proposition.

Investors who subscribed through the First Tranche will receive an SMS

confirmation of their respective allocation on 11 June 2024, with refunds

due to commence from the same date.

The completion of the Offering and admission of the Shares to listing and

trading on the Main Market of the ADX is currently expected to take place

https://www.tradingview.com/news/reuters.com,2024-06-06:newsml_ZawV7hpR:0-pressr-alef-education-holding-plc-successfully-completes-ipo-book… 3/5