Page 84 - ALEF EDUCATION PR REPORT MAY 2024

Abu Dhabi edtech firm Alef sets IPO

price range, seeks to raise $515m

Alef is offering the shares in two tranches, with the edtech firm
expected to debut on the Abu Dhabi Securities Exchange on
June 12

BY KUDAKWASHE MUZORIWA
MAY 28, 2024

Image credit: WAM

Abu Dhabi-based Alef Education has started taking investor orders for its
initial public offering (IPO), as the edtech firm seeks to raise as much as
$515m (Dhs1.89bn) in what is set to be the first listing on the local bourse this
year.

Shareholders, Tech Nova Investment – Sole Proprietorship and Kryptonite
Investments, are offering 1.4 billion shares, equivalent to 20 per cent of Alef’s

https://gulfbusiness.com/abu-dhabis-alef-seeks-to-raise-515m-from-ipo/