Page 34 - ALEF EDUCATION PR REPORT - JULY 2024

7/31/24, 11:11 AM Alef Education Reports 7% Increase In H1 Profit To $67.8M
Alef IPO

Alef Education's IPO on the Abu Dhabi Securities Exchange was 39 times oversubscribed.

Following its IPO, the company pledged to pay out $36.8 million (AED 135 million) to its 20% free

float investors, and has approved an interim dividend of $18.4 million (AED 67.5 million) for the
first half of the year, with a dividend yield exceeding 8% at the current share price.

What to watch for

Alef Education anticipates intensified revenue growth driven by new government contracts,
including a confidential B2G contract in the UAE valued at $8.4 million (AED 31 million) to

develop values-based Islamic content.

https://www.forbesmiddleeast.com/industry/education/alef-education-posts-7-rise-in-h1-profit-to-%24678m-on-higher-revenue 3/3