Page 41 - ALEF EDUCATION PR REPORT MAY 2024

5/30/24, 11:09 AM Alef Education IPO Price Range Values Edtech Firm Between Dh9.1 Billion To Dh9.45 Billion
“Alef Education offers another investment opportunity in the growing education sector, utilising
advanced tech platforms. Its Shariah-compliant status, declared by First Abu Dhabi Bank, is

expected to attract considerable interest from local investors. Additionally, many UAE parents,
who spend significantly on their children's education, may find the stock appealing,” Vijay

Valecha, Chief Investment Officer, Century Financial, said in a note.

Parents in the UAE are among the highest spenders on education globally. Dubai's appeal as
a post-COVID haven has attracted many newcomers, where private schooling is mandatory

for expatriate children, highlighting the potential value of Alef Education's stock.

The company's generous dividend policy is expected to appeal to investors, who will closely
monitor the valuation offered in the upcoming IPO, Valecha said. Private school operator

Taaleem Holdings, which listed in Dubai at the end of 2022, saw its shares initially dip below
the offer price but have since risen 23 per cent as profits increased with higher student

enrolments.

“Alef Education's IPO is poised to attract significant interest due to its strong financial
performance, strategic growth plans, and high regional demand for quality education. Its
generous dividend policy and solid cash conversion ratio add to its appeal. Investors will

closely watch the valuation, anticipating substantial growth in the expanding ed-tech market,”

Valecha said.

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