Page 63 - ALEF EDUCATION PR REPORT - JUNE 2024

6/13/24, 10:39 AM Abu Dhabi’s First IPO of the Year Falls in Trading Debut for Alef Education - Bloomberg
Updated on June 12, 2024 at 3:21 PM GMT+4

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Alef Education Holding Plc shares dropped on their Abu Dhabi debut,
Alef Education Holding Plc shares dropped on their Abu Dhabi debut,
a rarity in the Middle East where initial public offerings have typically
a rarity in the Middle East where initial public offerings have typically
yielded near-guaranteed returns in early trading.
yielded near-guaranteed returns in early trading.

The shares fell as much as 19% from the offer price of 1.35 dirhams
The shares fell as much as 19% from the offer price of 1.35 dirhams
apiece, before paring the decline to close 13% lower. That contrasted
apiece, before paring the decline to close 13% lower. That contrasted

with the strong demand for the stock when the IPO was unveiled —
with the strong demand for the stock when the IPO was unveiled —
investors put in orders worth $20 billion and the deal, which priced at
investors put in orders worth $20 billion and the deal, which priced at
the top of the range and raised 1.89 billion dirhams ($515 million),
the top of the range and raised 1.89 billion dirhams ($515 million),

was 39 times oversubscribed.
was 39 times oversubscribed.

https://www.bloomberg.com/news/articles/2024-06-12/abu-dhabi-s-first-ipo-of-the-year-falls-10-in-trading-debut?srnd=markets-vp&embedded-checko… 2/2