Taaleem Holdings announces offer price range and start of subscription period for IPO

Taaleem Holdings announces offer price range and start of subscription period for IPO

- Price range implies the issuance of a total of 254,237,288 new shares, representing 25.32% of Taaleem’s share capital, at a price of AED 2.95 per share, and a total of 250,000,000 new shares, representing 25.00% of Taaleem’s share capital, at a price of AED 3.00 per share

- Taaleem seeks to raise total capital of AED 750,000,000 (Seven Hundred and Fifty Million) via the initial public offering (the “IPO” or the “Offering”)

- The Offering is a primary issuance only, and Taaleem intends to use the net proceeds from the Offering to expand its premium K-12 schools' network

- The IPO subscription period starts today and is expected to close on 16 November 2022 for UAE Retail Investors and Eligible Employees and Eligible Parents, with subscriptions expected to close on 17 November 2022 for Professional Investors

- The final offer price will be determined through a book building process and is expected to be announced on 18 November 2022

- Taaleem intends to maintain dividends at current levels and grow its dividends in line with future earnings growth, at the discretion of the Board of Director’s recommendation and subject to shareholder approval at the Annual General Meeting

- Admission of the shares to trading on