Page 196 - ALEF EDUCATION PR REPORT - JUNE 2024

6/7/24, 10:07 AM UAE: 'Alef Education' completes IPO bookbuild, raising AED1.89 billion

UAE: 'Alef Education' completes IPO bookbuild, raising

AED1.89 billion

ANI

06 Jun 2024, 20:55 GMT+10

Dubai [UAE], June 6 (ANI/WAM): Alef Education Holding on Thursday announced the successful comple
for its Initial Public Offering (IPO) on the Main Market of the Abu Dhabi Securities Exchange (ADX).

In a statement today, the company unannounced the Final Offer Price at AED1.35 per Share, at the top e
Range, implying a market capitalisation at the listing of AED9.45 billion (US$2.57 billion) and resulting in

million).

The Offering saw significant demand from local, regional, and international investors, with total gross dem
billion (US$ 20 billion), implying an oversubscription level of approximately 39x in aggregate.

The overwhelming demand from a broad range of investors demonstrates the strength of Alef Education'

offer and the company's unique investment proposition.

The company expects to distribute a minimum dividend of AED135 million with respect to each of its fina
2025 to all other shareholders (other than the Selling Shareholders), implying an annualised minimum div
Price.

Admission of shares to trading on the ADX is anticipated to occur on or around 12th June 2024.

Geoffrey Alphonso, Chief Executive Officer of Alef Education, commented, "The 39x oversubscription in o
Offering but also the belief in our future growth and ability to continue advancing educational outcomes fo

our products and services remains high, especially given the increasing public and private investment in
(ANI/WAM)

https://www.australiannews.net/news/274397529/uae-alef-education-completes-ipo-bookbuild-raising-aed189-billion 1/1