Page 87 - ALEF EDUCATION PR REPORT - JUNE 2024

The ceremony was also attended by the Alef Education board, alongside
senior executives of both Alef Education and the ADX.

Alef Education shares began trading following the successful public offering,
which raised Dh1.89 billion through the sale of 1.4 billion shares, or 20
percent of the company, at Dh1.35 per share.

At the time of listing, the Group's market capitalisation was Dh9.45 billion.

The Group's IPO met with robust demand from investors.

The Offering was 39x oversubscribed, even after the retail tranche was
increased from 8 percent to 10 percent.

"Education is a cornerstone of societal and economic advancement, and Alef
Education is proud to be creating innovative artificial intelligence solutions that

help improve academic outcomes at a time of widening educational gaps
worldwide. The rapid success of Alef Education also reflects the environment
the Abu Dhabi government has created to nurture tech startups and to support

their capital markets journeys," Alahmadi said.

Alphonso said, "The robust demand for shares of Alef Education is a vote of
confidence in the company's strong fundamentals and attractive growth
prospects. The Group's robust financial position and capacity to raise capital

position it well to take advantage of growth opportunities and continue
maximising shareholder value. As an established EdTech player with a strong
track record of success across its countries of operation, including the UAE,
Indonesia, the US, and Morocco, Alef Education stands to benefit from further

scale as a market leader."

For the financial years ending December 31, 2024 and 2025, the company
intends to pay a target minimum dividend amount to investors equivalent to an
annualised dividend of Dh135 million relating to its performance for the

financial year ending December 31, 2024 and Dh135 million relating to its
performance for the financial year ending December 31, 2025.

https://en.aletihad.ae/news/business/4493419/alef-education-holding-lists-on-adx--starts-trading