UAE Business: EFG Hermes advises on $204m IPO of Dubai-based Taaleem – Gulf Digital News

UAE Business: EFG Hermes advises on $204m IPO of Dubai-based Taaleem – Gulf Digital News

EFG Hermes, a leading investment bank franchise, said its Investment Banking division completed advisory on the $204 million initial public offering (IPO) of Dubai education provider Taaleem.

Taaleem has been listed 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 AED3.00/share, implying a total market capitalisation of AED3 billion ($820 million). The transaction garnered strong interest from both retail and institutional investors alike, with demand raised reaching AED13.7 billion, implying an oversubscription of 18x. The company began trading under the ticker TAALEEM.

Private sector IPO

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 $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 a market where investors prioritise