Page 88 - ALEF EDUCATION PR REPORT - JUNE 2024

6/13/24, 10:43 AM Alef Education lists on Abu Dhabi Securities Exchange – The Gulf Time Newspaper
Alef Education lists on Abu Dhabi Securities

Exchange

ABU DHABI/WAM

Shares of Alef Education Holding plc today began trading on the Abu Dhabi Securities Exchange (ADX),

marking the introduction of the first EdTech company on the ADX and the first company to go public on the
Exchange in 2024.
Abdulhamid Mohammed Saeed Alahmadi, Chairman of Alef Education’s Board of Directors, and Geoffrey

Alphonso, Chief Executive Officer of Alef Education, rang the market opening bell at today’s official listing
ceremony in the presence of Ghannam Butti Almazrouei, ADX’s Chairman and Abdulla Salem Alnuaimi,

ADX’s Chief Executive Officer.
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 AED1.89 billion
through the sale of 1.4 billion shares, or 20% of the company, at AED1.35 per share. At the time of listing,

the Group’s market capitalisation was AED9.45 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% to 10%.

Alahmadi said, “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.”

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