Page 247 - ALEF EDUCATION PR REPORT MAY 2024
P. 247

5/20/24, 1:07 PM                 Alef Education will be UAE's third IPO of 2024 - and first in Abu Dhabi | Markets – Gulf News
            This will also be the first listing for the ADX this year.


            Alef Education offers AI-powered learning solutions and is 'indirectly majority owned

            by Abu Dhabi Capital Group'. ● The group provides digital educational resources to all

            public and many private schools in the UAE. (It has a 100 per cent penetration rate

            among Cycle 2 (Grades 5-8) and Cycle 3 (Grades 9-12) public schools and serves 40-50
            per cent of the private school market in the UAE, said a statement.)



            The shares to be offered via the IPO represent those held by Tech Nova Investment –
            Sole Proprietorship llc and Kryptonite Investments llc.



            90% dividend


            Alef Education expects to pay a minimum dividend payout ratio of 90 per cent of the net

            profit generated during 2024 and 2025.































            The ADX listing will likely be or or around June 12. “The global edtech market has

            experienced exponential growth over the last couple of years, supported by increased

            government spending and initiatives to leverage digital and AI tools to transform the

            way that education is delivered and students learn," said Abdulhamid Mohammed
            Saeed Alahmadi, Chairman.



            "We have been – and will continue to be – both a proponent and beneficiary of this
            growing trend, which has helped fuel the growth and expansion of our business.





      https://gulfnews.com/business/markets/alef-education-will-be-uaes-third-ipo-of-2024---and-first-in-abu-dhabi-1.1716181808064  2/6
   242   243   244   245   246   247   248   249   250   251   252