Page 265 - ALEF EDUCATION PR REPORT MAY 2024

5/20/24, 1:09 PM Alef Education Holding to list on the Abu Dhabi Securities Exchange - Finance Middle East
Alef Education Holding to list on the Abu

Dhabi Securities Exchange

The edtech platform expects to pay a minimum dividend payout ratio of 90% for the 2024/25 f inancial
year.

Credit: Pixabay

Abu Dhabi’s Alef Education Holding has announced it will carry out the UAE’s third initial public offering (IPO) of
2024 after Spinneys and Parkin, and the f irst in the Abu Dhabi Securities Exchange (ADX).

The AI education platform will offer r1.4 billion shares in its listing, equivalent to 20% of the company’s total
equity capital. Alef Education expects to pay a minimum dividend payout ratio of 90% of the net prof it generated
during 2024 and 2025, the company revealed.

The group provides digital educational resources to all public and many UAE private schools. It has a 100%
penetration rate among Grades 5-8 and Grades 9-12 public schools and serves between 40% and 50% of the
private school market in the UAE.

“ The global edtech market has experienced exponential grow th 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 of Alef
Education.
“We have been – and will continue to be – both a proponent and benef iciary of this growing trend, which has
helped fuel the grow th and expansion of our business.”

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