Page 140 - ALEF EDUCATION PR REPORT FEBRUARY 2025
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Alpha Data's planned listing follows a string of IPOs over the past year. Talabat Holding, the
Middle Eastern unit of Germany's food delivery platform Delivery Hero, raised Dh7.5 billion
in November in what was the Gulf's biggest IPO last year. Also that month, UAE retail
major Lulu Group raised Dh6.32 billion.
Other UAE IPOs last year included NMDC Energy, a unit of Abu Dhabi contractor National
Marine Dredging Company, raising $877 million, and Alef Education, which raised $515
million.
Analysts say the pipeline of IPO deals in the UAE remains strong amid robust expansion of
the non-oil sector in the economy. The government's push to unlock value in state entities,
and to sell stakes, is also supporting deal flows.
Dubai Investments, a diversified company in which the sovereign wealth fund Investment
Corporation of Dubai holds a stake, last month said it plans to take four of its subsidiaries
public.
https://www.msn.com/en-ae/money/news/alpha-data-raises-163m-from-abu-dhabi-
ipo/ar-AA1zOvFo?ocid=BingNewsSerp#
