Alef Education Holding plc, an AI-powered learning solutions provider based in Abu Dhabi, revealed on Thursday that the total gross demand from local, regional, and international investors for its initial public offering exceeded 39 times.
Alef also declared that the bookbuild and subscription process for the Abu Dhabi Securities Exchange’s main market had been successfully completed.
At the upper end of the previously disclosed offer price range, Dh1.35 per share has been set as the final offer price. This suggests a Dh9.45 billion market capitalization at the time of listing and yields Dh1.89 billion in offer proceeds.
With regard to each of its fiscal years ending December 31, 2024, and 2025, the company anticipates paying out a minimum dividend of Dh135 million to all other shareholders (apart from the selling shareholders). This implies an annualized minimum dividend yield of 7.1% based on the final offer price.
Shares under the ticker symbol “AlefEdT” are expected to be admitted to trading on the ADX on or around June 12.
“Global and regional investors alike have come to recognize the significant and integral role we play — and will continue to play — in the education sector across our operating markets,” said Alef Education CEO Geoffrey Alphonso. The 39x oversubscription in our IPO shows not only the popularity of our offering but also the confidence in our future expansion and capacity to keep improving educational outcomes for the communities we serve as a reliable partner of choice for governments, schools, and educators.
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