Page 126 - ALEF EDUCATION PR REPORT MAY 2024

5/29/24, 10:44 AM Dailyhunt
Alef Education announces offer price range, start of IPO's

subscription period

Emirates News Age… . 18hr ago
ABU DHABI, 28th May, 2024 (WAM) -- Alef Education Holding plc today announced
the price range for the sale of its shares and the start of the subscription period for its Initial Public Offering (IPO) on the Main Market
of the Abu Dhabi Securities Exchange (ADX).

In a statement today, the company said that the Offer Price Range has been set between AED1.30 and AED1.35 per Share, implying
a market capitalisation at the time of listing between AED9.10 billion (US$2.48 billion) and AED9.45 billion (US$2.57 billion).

Alef will offer 1.4 billion (1,400,000,000) Shares, each with a nominal value of AED0.01, which are being made available in the
Offering, representing 20% of the company's issued share capital. As a result, 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 existing shares held by Tech Nova Investment - Sole Proprietorship LLC and Kryptonite Investments
LLC, who reserve the right to amend the size of the Offering at any time before the end of the subscription period subject to
applicable laws and the approval of the Securities and Commodities Authority (SCA).

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