Alef Education plans to list 20% of shares in Abu Dhabi IPO – The National

  • Date: 20-May-2024
  • Source: The National
  • Sector:Education
  • Country:UAE
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Alef Education plans to list 20% of shares in Abu Dhabi IPO – The National



Alef Education Holding, a UAE-based education technology company, plans to list its shares on the Abu Dhabi Securities Exchange as it seeks to boost its domestic business and expand its international footprint.Alef will sell 1.4 billion shares, or 20 per cent of the company's issued share capital, through an initial public offering on the main bourse of the ADX, it said on Monday.All shares being offered in the public float are held by existing shareholders Tech Nova Investment and Kryptonite Investments. The selling shareholders reserve the right to amend the size of the offering.UAE retail and institutional investors will be able to subscribe to the public float through separate tranches.The subscription period for retail and qualified investors will begin on May 28.The first tranche, for retail investors, will close on June 4 while the second, for qualified institutional investors, will conclude on June 5, the company said.Retail investors will be able to subscribe to 8 per cent, or 112 million shares, of the total share capital on offer while the institutional tranche will comprise 92 per cent, or 1.28 billion shares.Alef expects its shares to start trading on the ADX on June 12, subject to regulatory approvals.“Our IPO on ADX