Page 80 - ALEF EDUCATION PR REPORT MAY 2024

Abu Dhabi Edtech Firm Alef Fixes IPO

Price Range To Raise Up To $515M

ByJames EmmanuelForbes Middle East Staff
May 28, 2024, 12:21 PM

Alef Education will have a market capitalization in the range of $2.5 billion (AED 9.1 billion) to $2.6
billion (AED 9.45 billion) on listing. Image by Alef Education / Facebook

Alef Education Holding, an Abu Dhabi-based educational technology (edtech) firm,
announced Tuesday its initial public offering (IPO) price range is set between $0.35 (AED
1.3) and $0.37 (AED 1.35) to raise between $496 million (AED 1.82 billion) and $515
million (AED 1.89 billion).

Alef IPO details

• The company, the first edtech firm to list its shares in the UAE, is offering 1.4 billion
shares, equivalent to 20% of its paid-up capital.
• Alef Education will have a market capitalization in the range of $2.5 billion (AED
9.1 billion) to $2.6 billion (AED 9.45 billion) on listing on the Main Market of the Abu
Dhabi Securities Exchange (ADX).
• Alef Education expects to distribute a minimum dividend of $36.8 million (AED 135
million) for each of its financial years ending December 2024 and 2025.

https://www.forbesmiddleeast.com/money/markets/abu-dhabi-edtech-firm-alef-fixes-ipo-price-
range-to-raise-up-to-%24515m