Page 74 - ALEF EDUCATION PR REPORT MAY 2024
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Alef Education announces the price range for its
shares sale
• 14 hours ago
Alef Education Holding on Tuesday announced the price range for the sale of its shares
and the start of the subscription period for its Initial Public Offering (IPO) on the Main
Market of the Abu Dhabi Securities Exchange (ADX).
In a statement, the company said that the Offer Price Range has been set between
Dhs1.30 and Dhs1.35 per Share, implying a market capitalisation at the time of listing
between Dhs9.10 billion ($2.48 billion) and Dhs9.45 billion ($2.57 billion).
Alef will offer 1.4 billion (1,400,000,000) Shares, each with a nominal value of Dhs0.01,
which are being made available in the Offering, representing 20 per cent of the
company’s issued share capital. As a result, the total Offering size is expected to be
between Dhs1.82 billion ($496 million) and Dhs1.89 billion ($515 million).
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.”
https://www.gulftoday.ae/business/2024/05/28/alef-education--announces-the-price-range-for-
its-shares-sale