Alef Education plans to debut on Abu Dhabi stock exchange
The company, which develops digital tools for schools, will sell 20% of its shares in an IPO with a subscription period that starts May 28
The Abu Dhabi Securities Exchange's ADX logo is seen on a smartphone. (Photo: Getty Images)
Alef Education Holding is planning an IPO on the Abu Dhabi Securities Exchange as it seeks to expand its business beyond the UAE.
The company, which develops digital tools that are broadly used in Emirati schools, said today that it will sell 20% of its shares during a subscription period that starts May 28, with trading on the ADX expected to start June 12.
“We intend to solidify our market leadership at home and grow our presence across our target markets through continued investment in our digital capabilities, broadening our product offering and expanding our geographic footprint,” Alef CEO Geoffrey Alphonso said in a statement.
First Abu Dhabi Bank and EFG Hermes UAE were appointed as lead managers and bookrunners for the IPO.