Page 130 - ALEF EDUCATION PR REPORT MAY 2024

5/29/24, 10:45 AM Alef Education Targets $515 Million in Abu Dhabi’s First IPO 2024 - Serrari Group

Alef Education Targets $515 Million in Abu Dha

IPO 2024

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Alef Education, a prominent educational technology provider, has announced plans to raise up to
$515 million through an initial public offering (IPO) on the Abu Dhabi Securities Exchange. The

company has set the indicative price range for the IPO at 1.30-1.35 dirhams per share, aiming for
a market capitalization between $2.48 billion and $2.57 billion.

The IPO will see shareholders Tech Nova Investment, Sole Proprietorship, and Kryptonite

Investments offering 1.4 billion shares, which represent 20% of Alef’s share capital. Trading is
expected to begin on June 12.

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