Page 73 - ALEF EDUCATION PR REPORT - JUNE 2024

On ADX debut, Alef Education stock drops

17% in first 45 minutes

UAE edtech company closed a successful IPO, with oversubscriptions
clearing Dh74b

Published: June 12, 2024 10:03Manoj Nair, Business Editor

The ADX
has its first listing of the year, in the form of Alef Education.Image

Credit: Supplied
Dubai: The UAE's latest stock market listing, Alef Education, is having a bad day on its
first day. At the 45-minute mark of the market opening, Alef was at Dh1.1, down 17 per
cent from its listing price of Dh1.35. (The stock's overall traded value was at Dh87.73
million.)

Just over the one-hour mark, the stock has narrowed its drop to 11 per cent, and trading
at Dh1.19. Closer to 1pm, the stock had cut the losses further, to just over 8 per cent
and Dh1.24.

https://gulfnews.com/business/markets/on-adx-debut-alef-education-stock-drops-17-in-first-45-
minutes-1.1718172781542