Alef Education Holding plc today announced the price range for the sale of its shares and the start of the subscription period for its Initial Public Offering (IPO) on the Main Market of the Abu Dhabi Securities Exchange (ADX).
Alef company sets Offer Price Range at AED1.30-1.35 per Share, valuing listing between AED9.10-9.45 billion. 1.4 billion Shares offered, representing 20% of issued capital, totaling AED1.82-1.89 billion. Tech Nova Investment and Kryptonite Investments offer existing shares. Minimum dividends of AED135 million expected yearly. IPO subscription from May 28 to June 5. Final offer price announced June 6, trading on ADX around June 12, adhering to Shariah principles.
Geoffrey Alphonso, Chief Executive Officer of Alef Education, commented,
“Our investment proposition has been incredibly well received by the market, with significant interest in our Offering since announcing our intention to float. We look forward to announcing the final offer price next week and are excited to welcome new shareholders as we embark on our next phase of growth.”
News Source: Emirates News Agency
