Page 115 - ALEF EDUCATION PR REPORT MAY 2024

Alef Education Announces IPO Price Range And

Subscription Start On ADX

By OneArabia

Alef Education Holding plc has announced the price range for its Initial Public Offering (IPO) on
the Main Market of the Abu Dhabi Securities Exchange (ADX). The Offer Price Range is set
between AED1.30 and AED1.35 per share, indicating a market capitalisation between AED9.10
billion (US$2.48 billion) and AED9.45 billion (US$2.57 billion).

The company will offer 1.4 billion shares, each with a nominal value of AED0.01, representing
20% of its issued share capital. Consequently, the total Offering size is expected to be between
AED1.82 billion ($496 million) and AED1.89 billion ($515 million).

All shares to be offered are currently held by Tech Nova Investment – Sole Proprietorship LLC
and Kryptonite Investments LLC. These entities reserve the right to amend the size of the
Offering before the end of the subscription period, subject to applicable laws and approval from
the Securities and Commodities Authority (SCA).
Alef Education plans to distribute a minimum dividend of AED135 million to all other
shareholders for each financial year ending 31st December 2024 and 2025. This implies a
dividend yield of approximately 7.42% at the top of the price range and around 7.14% at the
bottom.

The IPO subscription period begins today, 28th May, and will close on 4th June 2024 for
Individual Investors (First Tranche) and on 5th June 2024 for Professional Investors (Second

https://www.onearabia.me/local/alef-education-ipo-price-range-subscription-period-
announcement-011-37795.html