Page 15 - ALEF EDUCATION PR REPORT - APRIL 2024

Abu Dhabi’s Alef Education taps banks for 2024

IPO
The firm selected EFG Holding and FAB to advise on the potential IPO
• 01:12
•

Alef Education taps banks for IPO this year: Abu Dhabi-based ed-tech
company Alef Education has reportedly tapped our friends at EFG Hermes and First
Abu Dhabi Bank (FAB) to work on its upcoming initial public offering, expected to take
place this year, Bloomberg reports, citing people it says are familiar with the matter. The
timing and size of the offering were not disclosed, as talks are still in the early stages
and subject to change, according to the sources. An EFG Holding spokesperson
declined to comment when Enterprise reached out yesterday.
Alef has been eyeing the bourse debut for some time: The education firm had
reportedly held talks last year with advisors about the potential
listing, Bloomberg reported in July, citing people in the know.
About Alef Education: Founded in Abu Dhabi in 2016, Alef’s flagship learning platform
provides curated study plans for students using AI and machine learning tech, spanning
several international markets, such as the UAE, the US, Morocco and Indonesia. The
firm also boasts a portfolio of ed-tech platforms, including Abjadiyat, Arabits, and Alef
Pathways.

https://enterprise.news/uae/en/news/story/9e6ab588-7cbe-4ef7-acfb-97819fbace7d/alef-
education-moves-forward-with-planned-ipo