UAE education provider Taaleem plans to raise $204m from IPO

UAE education provider Taaleem plans to raise $204m from IPO

UAE-based education provider Taaleem Holdings has announced the intent to list its ordinary shares for trading on the Dubai Financial Market (DFM).

The company, which operates a portfolio of 26 schools, seeks to raise a total capital of Dhs750m ($204m) from the initial public offering, which it plans to deploy to expand its K-12 schools network.

We are excited to announce our intention to list on @DFMalerts . We are the 2nd largest premium education provider in the UAE with a portfolio of 26 schools. ​

Subscriptions open on Thursday 10 November.​ For more information, visit https://t.co/0GPFK3JkXD pic.twitter.com/Nut8IWW4EP — Taaleem (@Taaleem) October 31, 2022

The offering comprises individual subscribers forming its first tranche; professional investors making up the second tranche; and eligible employees and parents making consisting the third tranche. As much as 10 per cent of the company’s issued share capital has been allocated to the first tranche, while around 88 per cent and 2 per cent of the offer shares are allocated to the second and third tranches, respectively. Further, as part of the second offering, five per cent of the offering will be reserved to the EIA.

The subscription period for UAE retail investors, eligible employees and parents will open on November