Page 74 - ALEF EDUCATION PR REPORT MAY 2024
P. 74

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
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