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6/6/24, 2:50 PM Abu Dhabi’s First IPO of the Year Draws $20 Billion in Orders
Abu Dhabi’s First IPO of the Year Draws $20 Billion in Orders
Kateryna Kadabashy
Bloomberg News
The pricing implies a capitalization of 9.45 billion dirhams
Alef to pay at least 135 million dirhams of dividends in 2024
Abu Dhabi’s first initial public offering of the year drew in orders of $20 billion as
appetite for listings in the Gulf remains healthy.
Alef Education’s shareholders will raise 1.89 billion dirhams ($515 million) after the deal
priced at 1.35 dirhams per share, the top of the range. That implies a market
capitalization of 9.45 billion dirhams. The offer was 39 times covered by local, regional,
and international investors, according to a statement on Thursday.
Tech Nova Investment – Sole Proprietorship LLC and Kryptonite Investments LLC are
offering 1.4 billion shares, or a 20% stake, in the education technology firm. ...
https://news.bloomberglaw.com/capital-markets/abu-dhabis-first-ipo-of-the-year-draws-20-billion-in-orders 1/1
