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Abu Dhabi’s Alef Education rings ADX bell after
$20bn IPO order book shatters demand
Shares of the AI-powered learning solutions provider
began trading today under the symbol “AlefEdT,” marking
the ADX’s first IPO of 2024
Alef Education plans to pay shareholders a minimum annualised dividend of AED135
million for 2024 and 2025 performance
Abu Dhabi’s Alef Education Holding began trading on the Abu Dhabi Securities
Exchange (ADX), becoming the UAE’s first EdTech company to go public.
Shares of the AI-powered learning solutions provider began trading today under the
symbol “AlefEdT,” marking ADX’s first IPO of 2024.
The landmark listing follows a blockbuster AED1.89 billion ($515 million) initial public
offering that saw Alef Education sell 1.4 billion shares, or 20 percent of the company, at
AED1.35 per share. Robust investor demand saw the offering 39 times oversubscribed,
even after the retail tranche was increased from 8 percent to 10 percent.
https://www.arabianbusiness.com/markets/equities/ipo/abu-dhabis-alef-education-rings-adx-
bell-after-20bn-ipo-order-book-shatters-demand
