Alef Education to list on the Abu Dhabi Securities Exchange

Alef Education to list on the Abu Dhabi Securities Exchange

Published: Mon 20 May 2024, 4:38 PM

Alef Education Holding, an AI-powered learning solutions provider based in Abu Dhabi, on Monday announced its intention to proceed with an initial public offering and listing of its ordinary shares for trading on the main market of the Abu Dhabi Securities Exchange (“ADX”).

Alef Education is indirectly majority owned by Abu Dhabi Capital Group. Founded in 2008, ADCG’s scale, global reach, diverse investment mandate, and sector leading businesses, help to create transformative value as the natural partner of choice for some of the world’s leading businesses and investment institutions.

The selling shareholders expect to sell 20 per cent of the total issued share capital of Alef Education (equivalent to 1,400,000,000 shares). All shares are existing shares being sold by the selling shareholders, Tech Nova Investment – Sole Proprietorship L.L.C and Kryptonite Investments L.L.C and the company will not receive any proceeds from the offering. The selling shareholders reserve the right to amend the size of the offering and the size of any tranche at any time prior to the end of the subscription period at their sole discretion, subject to the applicable laws of the UAE and the approval of the SCA in the UAE.

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