Page 257 - ALEF EDUCATION PR REPORT MAY 2024

5/20/24, 1:07 PM UAE's Alef Education plans 20% IPO; eyes ADX listing

All the 1.4 billion shares to be offered are held by Tech Nova Investment – Sole Proprietorship L.L.C and

Kryptonite Investments L.L.C.

Alef Education is indirectly owned by Abu Dhabi Capital Group, a private institutional investment group.

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The first tranche for individual investors, comprising 8% of the total sale, is expected to run from 28 May
to 4 June 2024. The second tranche for professional investors, comprising 92%, will run from 28 May to
5 June 2024.

The price range for the offer will be announced on May 28, with the final price set on June 6, the
company said in a statement.

Alef Education provides AI-powered and personalised learning solutions and digital education across
grades K-12 for schools across the UAE and other markets worldwide, like Indonesia, and the US.

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