Page 160 - ALEF EDUCATION PR REPORT MAY 2024
P. 160

The offer has a price range is Dh1.30 to Dh1.35 a share, implying a market

               cap on listing of between Dh9.10 billion and Dh9.45 billion.Ads by


               The subscription run will run until June 4 for retail investors and June 5 for

               institutional buyers. As a solutions provider to all public schools in the UAE

               and a good number of private institutions too, Alef Education has a track

               record that should resonate with investors in the IPO. It's associated with
               more than 7,000 schools, including in select markets outside the UAE and still

               has 7 years left on a 12-year minimum fee contract.



               "Our successful track record of growth, underpinned by the value we provide

               and the trust we have built with international governments, customers, and

               partners – including ADEK (Abu Dhabi Department of Education and
               Knowledge) – has culminated in this milestone moment," said Abdulhamid

               Mohammed Saeed Alahmadi, Chairman.


               Leveraging organic and inorganic means, we aim to

               super-serve our home market of the UAE


               - Geoffrey Alphonso of Alef Education


               What's the dividend policy going to be?



               Alef Education will maintain a semi-annual dividend policy, and expects to

               have a minimum payout ratio of 90 per cent of net profit generated for 2024
               and 2025.



               The company intends to pay a target minimum dividend amount equivalent to

               Dh135 million for the two years.


               "If, during the minimum dividend guaranteed period, the portion of the

               declared dividend to all shareholders falls below the intended target minimum


               https://gulfnews.com/business/markets/subscriptions-open-for-abu-dhabis-alef-education-ipo---
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