Page 282 - ALEF EDUCATION PR REPORT - JUNE 2024

6/19/24, 4:53 PM EFG Hermes Successfully Completes Advisory Services for the $515 Million IPO of Alef Education Holding on the Abu Dhabi Securi…
Alef, a highly acclaimed company based in Abu Dhabi, holds a leading position in the education technology
sector by offering a suite of AI-powered educational programs and digital solutions.

EFG Hermes acted as joint global coordinator and joint bookrunner for the transaction.

In this transaction, Alef offered 1.4 billion shares at AED 1.35 per share, representing 20% of the company’s
total issued shares, bringing the market value to AED 9.45 billion ($2.6 billion).

The offered shares were owned by Technova Investment and Kryptonite Investment.

The transaction saw significant interest from local, regional, and international investors, with the IPO being
oversubscribed 39 times. Trading of the company’s shares commenced today under the symbol “AlefEdT.”

In this context, Mustafa Gad, Head of Promotion and Underwriting at EFG Hermes, stated that this transaction

marks a milestone for EFG Hermes as it is the company’s first transaction on the Abu Dhabi Securities
Exchange as a joint global coordinator and the first IPO for a technology company in the UAE.

Gad added that the strong investor interest in this transaction demonstrates the significant growth potential of
Alef and its innovative approach to delivering various digital learning solutions.

He affirmed that this transaction reflects EFG Hermes’s renewed commitment to supporting the growth in the
UAE and the capital markets of the Gulf Cooperation Council (GCC) countries, as well as supporting clients’

growth objectives.

This success is evidenced by completing six transactions in the UAE market and ten transactions in the GCC
markets this year alone.

Gad expressed pride in EFG Hermes’s contribution to the notable development of the financial services sector
in the UAE and looked forward to seizing more opportunities that drive progress and innovation in the

region’s capital markets.

Alef Education, which has received numerous prestigious awards, is a leader in the education technology
sector, specializing in offering a variety of AI-powered educational solutions.

It also provides digital education services and resources for different educational stages, from kindergarten to
secondary school, for public and private schools, teachers, students, and parents in the UAE and several other

countries around the world.

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