Page 69 - ALEF EDUCATION PR REPORT - JUNE 2024

6/13/24, 10:40 AM Abu Dhabi’s First IPO of the Year Slumps in Rare Debut Drop
technology firm. First Abu Dhabi Bank PJSC and EFG Hermes were the
joint lead managers and joint bookrunners on the IPO.

Though there’s been a lull in Abu Dhabi market, other countries in the

region such as Saudi Arabia have seen more IPO activity this year. Four
Saudi companies have drawn a combined $176 billion in orders for their

IPOs, although the kingdom’s biggest of the year — that of Dr. Soliman
Abdel Kader Fakeeh Hospital Co. — was overshadowed by Saudi

Aramco’s $11.2 billion mega stock offering.

UAE Education

Founded in 2016 and indirectly majority owned by Abu Dhabi Capital

Group, Alef Education serves the kindergarten to 12th grade sector. It
operates in countries including the United Arab Emirates, Indonesia,

Morocco and the US and plans to expand both organically and

inorganically.

https://finance.yahoo.com/news/abu-dhabi-first-ipo-falls-062838839.html?guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=… 3/3