Page 160 - ALEF EDUCATION PR REPORT MAY 2024
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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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