Page 254 - ALEF EDUCATION PR REPORT MAY 2024

5/20/24, 1:07 PM Alef Education plans to list 20% of shares in Abu Dhabi IPO
boost liquidity in local bourses.

In the GCC, 10 companies have tapped equity markets for funds, raising a
combined $1.2 billion in proceeds in the first quarter of this year, according to
PwC's quarterly IPO Watch report.

The intention to float shares by Alef is the latest among companies lining up to

list in the UAE amid a sustained economic momentum.

Markets in Abu Dhabi and Dubai have experienced strong listing activity over
the past few years.

Companies in Dubai raised Dh34.5 billion ($9.4 billion) by selling shares over
the past three years, with aggregate investor demand for those listings

reaching more than Dh1 trillion, the Dubai Securities and Exchange Higher
Committee said in March.

Dubai's parking operator Parkin and retailer Spinney's are the latest businesses
to float IPOs in the emirate, where the government is pursuing plans to list 10

state-owned companies and establish a Dh2 billion marketmaker fund to
encourage listings by private companies in sectors such as energy, logistics

and retail.

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Dubai retailer Spinneys listed on the Dubai Financial Market this month. Wam

In Abu Dhabi, Adnoc Gas, Investcorp Capital and the UAE's largest health care

operator, Pure Health, are among the companies that have floated shares last
year.

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