Dubai school operator Taaleem confirms Dh750m IPO, subscription opens November 10

Dubai school operator Taaleem confirms Dh750m IPO, subscription opens November 10

Dubai: Another Dubai government owned entity, Taaleem, will soon follow Empower onto a DFM listing. The Dubai school operator Taaleem plans to raise Dh750 million via the IPO, which will open November 10 for subscription and close November 16 for retail investors. The share price range will be announced November 10 and the final price November 18. Taaleem shares are expected to start trading on or around November 29. The company intends to pay a dividend of Dh67.5 million for the year ended August. "The dividend would be paid to shareholders before the closing date of the IPO," the statement said. "The company intends to pay dividends at least at the current levels and intends to grow its dividends in line with future earnings growth." The provision to increase the share size is also there. “Taaleem has evolved over nearly 20 years into one of the largest premium schools operators in the UAE," said Khalid Ahmed Humaid Matar Altayer, Chairman. "It has been a true success story, delivered with an unwavering commitment to providing premium, quality, affordable education, a robust business model, and strong government partnerships across Dubai, Abu Dhabi and Northern Emirates. "The IPO provides an attractive investment opportunity