Alef Education announces offer price range, start of IPO’s subscription period

Alef Education announces offer price range, start of IPO’s subscription period

ABU DHABI / WAM Alef Education Holding plc 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 ...

ABU DHABI / WAM

Alef Education Holding plc 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 AED1.30 and AED1.35 per Share, implying a market capitalisation at the time of listing between AED9.10 billion ($2.48 billion) and AED9.45 billion ($2.57 billion). Alef will offer 1.4 billion (1,400,000,000) Shares, each with a nominal value of AED0.01, which are being made available in the offering, representing 20% of the company’s issued share capital. As a result, the total offering size is expected to be between AED1.82 billion ($496 million) and AED1.89 billion ($515 million).

All Shares to be offered are existing shares held by Tech Nova Investment – Sole Proprietorship