Page 200 - ALEF EDUCATION PR REPORT OCTOBER 2024

10/4/24, 9:28 AM ADNH Catering IPO: Abu Dhabi company plans to list 40% of its shares on ADX | The National
The NMDC Energy deal surpassed the $515 million raised by Alef Education in June but

is smaller than healthcare operator Pure Health’s $986 million listing in December last

year.

The list of potential IPOs is also growing. Delivery Hero, the Germany-based food
delivery platform, announced in August that it is preparing to list shares of its UAE

subsidiary Talabat on the Dubai bourse.

In June, UAE-based hospital operator NMC Healthcare also appointed Rothschild as a

financial adviser to help explore strategic options for its shareholders, including an IPO.

Abu Dhabi’s LuLu Group International is also planning to launch its IPO this year and list
its shares on the ADX, the region's second-largest bourse by market capitalisation. The

hypermarket and chain operator has hired investment bank Moelis to advise it on the deal,

a company representative told The National last year.

Etihad Airways, the UAE's flag carrier, is also preparing for a potential listing, which

would be a first for a major Gulf airline as it pursues an ambitious growth

strategy between now and 2030, its chief executive Antonoaldo Neves told The
National in March.

The UAE, as well as the other members of the six-member economic bloc of the GCC, has

seen a consistent rise in IPO activity over the past two years.

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