EFG Hermes advises on the $204mln IPO of Dubai-based education platform Taaleem on the DFM

EFG Hermes advises on the $204mln IPO of Dubai-based education platform Taaleem on the DFM

- The first private sector IPO on the DFM since 2014, the listing in the vital education sector nurtures tomorrow’s generations and represents a key opportunity in impact investing

- The listing follows a series of successful, landmark ECM transactions the Firm has closed in the GCC this year

Dubai: EFG Hermes, the leading investment bank franchise in Frontier and Emerging Markets (FEM), announced today that its Investment Banking division completed advisory on the USD 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 AED 3.00/share, implying a total market capitalization of AED 3 billion. The transaction garnered strong interest from both retail and institutional investors alike, with demand raised reaching AED 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,