Page 55 - ALEF EDUCATION PR REPORT - JUNE 2024

Alef Education: A Rocky Start on

the Stock Market

By:Ayesha Ahmed
Date:
June 12, 2024
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The UAE recently experienced a noteworthy event in its stock market with the listing of Alef
Education, a prominent UAE-based edtech company that made its debut on the Abu
Dhabi Securities Exchange (ADX). However, Alef’s first day of trading was far from smooth,
as the stock experienced a significant drop in value within the first hour. Despite this initial
sharp decline, the stock market debut for Alef Education turned into a rollercoaster ride,
eventually showing signs of a gradual recovery.

Alef Education is a leading education technology company based in the UAE. It offers
innovative AI-driven solutions and services to public and private schools both in the UAE
and select international markets. The company’s mission is to enhance academic
outcomes and bridge educational gaps worldwide.

The Stock Market Debut

Alef Education began its first trading day with high expectations. The stock’s listing price
was set at Dh1.35, a figure that reflected the significant interest generated during the
company’s IPO. However, within the first 45 minutes of trading, Alef Education’s stock price
dropped by 17%, falling to Dh1.1. This immediate decline was a stark contrast to the
optimistic outlook many investors had.

Just over an hour into trading, Alef’s stock managed to reduce its losses slightly, narrowing
the drop to 11% and trading at Dh1.19. This indicated some level of investor confidence
despite the initial sell-off. As the trading session progressed, Alef Education’s stock
continued to recover, cutting its losses further to just over 8% and trading at Dh1.24 by 1
PM. This recovery suggested that, while the initial reaction was negative, there was still
underlying confidence in the company’s long-term potential.

IPO Success and Market Cap

https://thegulfentrepreneur.com/alef-education-stock-market/