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5/22/24, 2:32 PM Alef Education Holding announces intention to list on ADX
Alef Education Holding announces intention to list on ADX
ANI
20 May 2024, 20:18 GMT+10
Abu Dhabi [UAE], May 20 (ANI/WAM): Alef Education Holding plc announced its intention to proceed with an Initial Public O
(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 inve
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 1,400,0
shares). All shares are existing shares being sold by the Selling Shareholders, Tech Nova Investment - Sole Proprietorship
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
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
May 28 to June 5, 2024.
The Internal Shariah Supervision Committee of First Abu Dhabi Bank PJSC has issued a pronouncement confirming that, in
view, the Offering is compliant with Shariah principles. Investors should undertake their own due diligence to ensure that th
Offering is Shariah-compliant for their purposes.
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