Page 161 - ALEF EDUCATION PR REPORT MAY 2024

dividend amount, then the selling shareholders may - subject to not breaching

AAOIFI Shariah standards - forgo their right to receive dividends to the extent

necessary to pay the intended amount to all other shareholders," said the
company.

DIVIDEND YIELD

The offer price range implies a dividend yield of around 7.42 per cent at the

top of the price range and 7.14 per cent at the bottom end for 2024 and 2025

to all shareholders (other than the selling shareholders).

According to Geoffrey Alphonso, CEO, “Our investment proposition has been

incredibly well received by the market, with significant interest in our offering

since announcing our intention to float.

"With the opening of subscriptions, we are offering UAE and international

investors the opportunity to participate in the growth of a leading and

homegrown player in the education technology sector—an underrepresented

sector across UAE capital markets.

"We are committed to driving further growth across our platform and delivering

sustainable long-term shareholder value, supported by our robust dividend

policy."

Schools and edtech

Alef Education can be defined as an 'edtech' firm, with its solutions and

services geared to aiding school going children. According to Forbes, the

edtech industry globally is expected to rise from $133 billion in 2023 to $433

billion by 2030 growing at a cagr of 18.3 per cent. "Alef’s entry into this space

allows investors to capitalize on this growth opportunity for not only the UAE

https://gulfnews.com/business/markets/subscriptions-open-for-abu-dhabis-alef-education-ipo---
uaes-third-stock-float-of-2024-1.1716872142576