Page 95 - ALEF EDUCATION PR REPORT MAY 2024

5/29/24, 10:40 AM Alef Education to raise up to $515 million in stock market float - Virgin Radio Dubai

ALEF EDUCATION TO RAISE UP

TO $515 MILLION IN STOCK

MARKET FLOAT

News Home More from Business News Tuesday, 28 May 2024 15:30

By ARN News Staff

via X

Alef Education Holding plc has 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 Abu Dhabi Securities

Exchange (ADX).

In a statement on Tuesday, the company said that the Offer Price Range has been set between AED
1.30 and AED 1.35 per share, implying a market capitalisation at the time of listing between AED

9.10 billion ($2.48 billion) and AED 9.45 billion ($2.57 billion).

Alef will offer 1.4 billion shares, each with a nominal value of AED 0.01, representing 20 per cent of
the company’s issued share capital. As a result, the total Offering size is expected to be between

AED 1.82 billion ($496 million) and AED 1.89 billion ($515 million).

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