IPO for Alef Education raises 1.89 billion dirhams and receives 39x coverage

Alef Education Holding PLC has successfully completed the book-building and subscription process for its initial public offering on the main market of the Abu Dhabi Securities Exchange. The final offering price was set at 1.35 dirhams per share, at the upper limit of the previously announced price range. This sets the company’s market value upon listing at 9.45 billion dirhams ($2.57 billion), with proceeds from the offering reaching 1.89 billion dirhams ($514 million). The IPO saw significant demand from local, regional, and international investors, with total demand exceeding 74 billion dirhams ($20 billion), surpassing the subscription coverage by about 39 times.

The high demand from a diverse base of investors reaffirms Alef Education’s leading position in the sector, its strong foundations, promising growth prospects, and rewarding investment opportunity. The company plans to pay a minimum annual dividend of AED 135 million for each of the financial years ending on December 31, 2024, and 2025, providing a minimum annual dividend yield of 7.1% based on the final share price.

Alef Education is expected to be listed on June 12th, under the trading symbol “AlefEdT.” The company has ambitious growth plans to expand across target markets, enhance its educational product portfolio, and continue adding value to the UAE market. Alef Education looks forward to welcoming new shareholders, including individual investors within the country, who will play a crucial role in the company’s future.

For further details about Alef Education’s IPO and final offering price interested parties can refer to their official communications and announcements.

By Sophia Gonzalez

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