Page 43 - ALEF EDUCATION PR REPORT NOVEMBER 2024

11/27/24, 11:41 AM Alef Education becomes part of MSCI UAE Small Cap Index
effective change and shaping the future of education through progressive, technology-driven
approaches,” Geoffrey Alphonso, CEO of Alef Education.
Morgan Stanley Capital International (MSCI) is an investment research firm that provides stock
indexes, portfolio risk and performance analytics, and governance tools to institutional investors and
hedge funds. The MSCI UAE Small Cap Index is designed to measure the performance of the small-
cap segment of the equity market. MSCI indices are widely used by investment managers and
institutional investors for index funds and as benchmarks for active investment strategies.
Alef Education, an AI-powered learning solutions provider, operates in approximately 7,000 schools
across the UAE, the US, Indonesia and Morocco. Its flagship AI-integrated Alef Platform offers
personalized learning experiences to more than 1.1 million registered students.

Successful IPO
Shares of Alef Education Holding plc began trading on the Abu Dhabi Securities Exchange (ADX)
in June, marking the introduction of the first EdTech company on the ADX and the first company to
go public on the exchange in 2024.
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 percent 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 percent to 10 percent.

https://economymiddleeast.com/news/alef-education-becomes-part-of-msci-uae-small-cap-index/ 2/2