Page 92 - ALEF EDUCATION PR REPORT - JUNE 2024

6/13/24, 10:44 AM Alef Education Shares Down 18% In Abu Dhabi Market Debut
Alef Education Shares Plunges 12% In Abu Dhabi Trading Debut

By Mohamed Rashed Alkhalifa Forbes Middle East Staff Jun 12, 2024, 15:17 PM

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Alef Education has over 1.1 million registered students and is present in 7,000 schools. Image by Alef Education /
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Shares of Alef Education Holding plunged more than 12% in its trading debut on the Abu

Dhabi bourse on Wednesday after the educational technology (edtech) firm raised $515

million (AED 1.89 billion) in a heavily oversubscribed initial public offering (IPO) earlier

this month.

Market debut

Alef’s shares fell to $0.32 (AED 1.18), a 12.6% decline from its IPO price of $0.37 (AED
1.35). As soon as the market opened on Wednesday, shares of the company fell as much as

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