Page 133 - ALEF EDUCATION PR REPORT MAY 2024

5/29/24, 10:45 AM Abu Dhabi's Landmark IPO, Dubai's New Gaming Visa, and ICC Complaint on Gaza Journalists
Abu Dhabi-based Alef Education is set to raise up to 1.89 billion dirhams ($515 million) in an

initial public offering, marking the first IPO in the UAE's capital this year. The price range is

set between 1.30 dirhams and 1.35 dirhams per share, with a 20% stake being offered by Tech
Nova Investment and Kryptonite Investments. Alef Education, founded in 2016 and indirectly

majority-owned by Abu Dhabi Capital Group, serves the K-12 sector in the UAE, Indonesia,

Morocco, and the US. The company expects to pay a dividend yield of up to 7.42% for 2024

and 2025. The shares are expected to start trading on June 12, with final pricing due on June 6.

Dubai Introduces a Gaming and Content Creator Visa for Industry Professionals

Dubai has launched the "Dubai Program for Gaming 2033" to establish itself as a global hub

for digital content creators and entrepreneurs in the gaming industry. The program aims to
attract 30,000 workers and contribute over $1 billion to Dubai’s GDP. Approved applicants,

who must be at least 25 years old and hold a Creative and Talented Accreditation Certificate,

will gain long-term residency in Dubai. The initiative, supported by international companies

and academic institutions, provides a comprehensive support ecosystem for developers,

designers, programmers, and entrepreneurs to network and engage with investors.

Media Watchdog Files ICC Case Over Journalists’ Deaths in Gaza

Reporters Without Borders (RSF) has filed a complaint with the International Criminal Court

(ICC) regarding the deaths and injuries of Palestinian journalists in Gaza. RSF has requested

the ICC's prosecutor to investigate alleged war crimes committed by the Israeli army against at
least nine journalists since December 15. The complaint includes the cases of eight journalists

killed between December 20 and May 20, and one injured. RSF argues that these journalists

were deliberately targeted, which constitutes an attack on the public's right to information. The

ICC is currently probing potential crimes against journalists, with over 100 reporters killed

during the Gaza war.

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