Page 264 - ALEF EDUCATION PR REPORT MAY 2024

5/20/24, 1:08 PM UAE's Alef Education announces intention to list on Abu Dhabi bourse - Arabian Business: Latest News on the Middle East, Real …
In the financial year 2023, Alef Education generated revenues of AED750 million and
posted adjusted EBITDA and profit margins of 65 percent and 61 percent respectively. It

serves over 1.1 million students and 7,000 schools globally.

The company has a long-term contract with Abu Dhabi’s education authority until 2031,
providing revenue visibility. This supports its growth plans, including diversifying product

offerings and pursuing opportunities in new markets.

“Since its inception, Alef Education has played a pivotal role in advancing the UAE’s
education landscape, delivering a significant, tangible, and positive impact for the students

and education communities we serve. We take immense pride in our standing as a trusted
partner of choice for both governments and education institutions, catering to their diverse

and evolving education and learning requirements,” Abdulhamid Mohammed Saeed
Alahmadi, Chairman of Alef Education‘s Board of Directors, said.

CEO Geoffrey Alphonso added that the listing “is an important milestone and natural

progression in our journey to maximise our potential and become a global edtech leader.
Supported by our transparent dividend policy, we are committed to delivering strong

shareholder returns in both the near and long term, and we look forward to welcoming
new shareholders in what is an exciting new chapter for Alef Education.”

The IPO in June will sell 1.4 billion shares at a price to be determined later. Alef Education

generates stable cashflows from subscription-based contracts and has profitable
operations.

Abu Dhabi Capital Group, one of the region’s largest investment firms, is currently the

majority owner. The listing will provide an opportunity for new investors to participate in

Alef Education’s future growth.

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