Page 37 - ALEF EDUCATION PR REPORT MAY 2024

5/30/24, 11:01 AM Alef Education Sets IPO Offer Price Range
Alef company sets Offer Price Range at AED1.30-1.35 per Share, valuing

listing between AED9.10-9.45 billion. 1.4 billion Shares offered, representing

20% of issued capital, totaling AED1.82-1.89 billion. Tech Nova Investment

and Kryptonite Investments offer existing shares. Minimum dividends of

AED135 million expected yearly. IPO subscription from May 28 to June 5.

Final offer price announced June 6, trading on ADX around June 12, adhering

to Shariah principles.

Geoffrey Alphonso, Chief Executive Officer of Alef

Education, commented,

“Our investment proposition has been incredibly

well received by the market, with significant

interest in our Offering since announcing our

intention to float. We look forward to

announcing the final offer price next week and

are excited to welcome new shareholders as we

embark on our next phase of growth.”

News Source: Emirates News Agency

https://focus.hidubai.com/alef-education-announces-offer-price-range-start-of-ipos-subscription-period/ 2/2