Page 234 - ALEF EDUCATION PR REPORT MAY 2024

5/22/24, 2:30 PM Alef Education Holding announces intention to list on ADX | Welcome to Mantra
Alef Education Holding announces intention

to list on ADX

by ANI May 20, 2024 World

Abu Dhabi [UAE], May 20 (ANI/WAM): Alef Education Holding plc announced its intention to proceed with an Initial Public
Offering (IPO) and listing of its ordinary shares for trading on the Main Market of the Abu Dhabi Securities Exchange (ADX).
Alef Education is indirectly majority owned by Abu Dhabi Capital Group (ADCG), one of the largest private institutional
investment groups in the Middle East and North Africa with a portfolio spanning multiple asset classes, industries, and
geographies.
The selling Shareholders expect to sell 20 per cent of the total issued share capital of Alef Education (equivalent to
1,400,000,000 shares). All shares are existing shares being sold by the Selling Shareholders, Tech Nova Investment – Sole
Proprietorship LLC and Kryptonite Investments LLC and the Company will not receive any proceeds from the Offering.
The First Tranche offer (Individual Investors and other investors, including natural persons, companies and establishments as
defined in the UAE Prospectus) subscription period is expected to run from May 28 to June 4, 2024.
The Second Tranche offer (Professional Investors as defined in the UAE Prospectus) subscription period is expected to run from
May 28 to June 5, 2024.
The Internal Shariah Supervision Committee of First Abu Dhabi Bank PJSC has issued a pronouncement confirming that, in
their view, the Offering is compliant with Shariah principles. Investors should undertake their own due diligence to ensure that
the Offering is Shariah-compliant for their purposes.
The Selling Shareholders reserve the right to amend the size of the Offering at any time before the end of the subscription period,
subject to applicable laws and the approval of the Securities and Commodities Authority (SCA) in the UAE.
Admission of shares to trading on the ADX is anticipated to occur on or around June 12, 2024.
Commenting on the announcement, Abdulhamid Mohammed Saeed Alahmadi, Chairman of Alef Education’s Board of
Directors, said, “Our successful track record of growth, underpinned by the value we provide and the trust we have built with
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