EFG Hermes advises on the $204 million IPO of Taaleem on DFM

EFG Hermes advises on the $204 million IPO of Taaleem on DFM

EFG Hermes, the leading investment bank franchise in Frontier and Emerging Markets (FEM), announced today that its Investment Banking division completed advisory on the $204 million initial public offering (IPO) of Dubai education provider Taaleem on the Dubai Financial Market (DFM). The Firm acted as Joint Lead Arranger and Joint Global Coordinator on the transaction. Taaleem issued 250 million new ordinary shares, representing 25% of its share capital. The shares were priced at the high end of the indicative price range at Dh3.00/share, implying a total market capitalization of Dh3 billion. The transaction garnered strong interest from both retail and institutional investors alike, with demand raised reaching $13.7 billion, implying an oversubscription of 18x. The company began trading today under the ticker TAALEEM. Mohamed Fahmi, EFG Hermes’ Co-Head of Investment Banking, commented, "We are excited to have closed on the first private sector IPO on the DFM in recent memory, which required significant marketing capabilities to showcase Taaleem against multiple government-backed listings in the GCC. Over USD 10 billion has been raised in UAE listings this year, with the government issuing stake sales in numerous state entities to transform into a diversified economy and attract global investor demand, particularly in