Subscriptions open for Abu Dhabi’s Alef Education IPO – UAE’s third stock float of 2024

Subscriptions open for Abu Dhabi’s Alef Education IPO – UAE’s third stock float of 2024

Dubai: Subscriptions have opened for Alef Education's 1.4 billion shares, which make up 20 per cent of the education tech company's issued share capital. This is the UAE's third IPO of 2024, after Parkin and Spinneys, and the first one on ADX.

The subscription run will run until June 4 for retail investors and June 5 for institutional buyers. As a solutions provider to all public schools in the UAE and a good number of private institutions too, Alef Education has a track record that should resonate with investors in the IPO. It's associated with more than 7,000 schools, including in select markets outside the UAE and still has 7 years left on a 12-year minimum fee contract.

Subscriptions open for Abu Dhabi's Alef Education IPO - UAE's third stock float of 2024