Page 191 - ALEF EDUCATION PR REPORT MAY 2024

5/22/24, 2:22 PM Alef Education to list 20 percent shares on Abu Dhabi stock market
Alef Education to list 20 percent shares on Abu Dhabi stock market
The final price will be announced on June 5, and shares are likely to begin trading on the
ADX on or around June 12

The price range will be announced on May 28, marking the beginning of the subscription period
Abu Dhabi-based Alef Education Holding, an AI-powered learning solutions provider, plans to list
20 percent of the company’s issued share capital in an initial public offering (IPO) on the Abu Dhabi
stock market, it said on Monday.
Alef Education is indirectly majority owned by Abu Dhabi Capital Group (ADCG), a private
institutional investment group in the Middle East and North Africa.
As many as 1.4 billion shares, currently held by selling shareholders – Tech Nova Investment – Sole
Proprietorship LLC and Kryptonite Investments LLC – will be made available in the offering.
Details of the offering
The price range will be announced on May 28. The subscription period for the first tranche — 8
percent of the offer — will run from May 28 to June 4. The first tranche comprises individual
investors and companies.
The second tranche comprises professional investors. Their subscription period will begin on May
28 and end on June 5. This tranche has 92 percent of the offer shares earmarked.
The final price will be announced on June 5. Shares are likely to begin trading on the ADX on or
around June 12.
Read | 10 MENA IPOs raise $1.2 billion in Q1 2024: Report
“Since its inception, Alef Education has played a pivotal role in advancing the UAE’s education
landscape. It has delivered a significant, tangible, and positive impact for the students and education
communities we serve. We take immense pride in our standing as a trusted partner of choice for both

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