Serrari Group

Alef Education, a prominent educational technology provider, has announced plans to raise up to $515 million through an initial public offering (IPO) on the Abu Dhabi Securities Exchange. The company has set the indicative price range for the IPO at 1.30-1.35 dirhams per share, aiming for a market capitalization between $2.48 billion and $2.57 billion.

The IPO will see shareholders Tech Nova Investment, Sole Proprietorship, and Kryptonite Investments offering 1.4 billion shares, which represent 20% of Alef’s share capital. Trading is expected to begin on June 12.

Alef Education, founded in 2016, specializes in AI-powered personalized learning programs. By the end of last year, its platform was serving approximately 1.1 million students, 50,000 teachers, and 7,000 schools. This IPO will enable Alef to further develop its technology and expand its reach.

This move comes as other education firms in the region, such as Taaleem Holdings and Amanat Holdings, explore similar public listings to meet the increasing demand for innovative educational solutions. Alef’s successful listing is expected to attract considerable investor interest, aligning with the UAE’s emphasis on technological advancement in education.

Alef Education’s IPO is a significant step in its growth strategy, providing the necessary capital to enhance its services and expand into new markets. This aligns with the UAE’s vision of promoting innovation and improving educational outcomes through technology.

Photo source: Google

Montel Kamau

Serrari Financial Analyst

28th May, 2024

Share this article:
Article and News Disclaimer

The information provided on www.serrarigroup.com is for general informational purposes only. While we strive to keep the information up to date and accurate, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

www.serrarigroup.com is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information on the website is provided on an "as-is" basis, with no guarantee of completeness, accuracy, timeliness, or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.

In no event will www.serrarigroup.com be liable to you or anyone else for any decision made or action taken in reliance on the information provided on the website or for any consequential, special, or similar damages, even if advised of the possibility of such damages.

The articles, news, and information presented on www.serrarigroup.com reflect the opinions of the respective authors and contributors and do not necessarily represent the views of the website or its management. Any views or opinions expressed are solely those of the individual authors and do not represent the website's views or opinions as a whole.

The content on www.serrarigroup.com may include links to external websites, which are provided for convenience and informational purposes only. We have no control over the nature, content, and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorsement of the views expressed within them.

Every effort is made to keep the website up and running smoothly. However, www.serrarigroup.com takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.

Please note that laws, regulations, and information can change rapidly, and we advise you to conduct further research and seek professional advice when necessary.

By using www.serrarigroup.com, you agree to this disclaimer and its terms. If you do not agree with this disclaimer, please do not use the website.

www.serrarigroup.com, reserves the right to update, modify, or remove any part of this disclaimer without prior notice. It is your responsibility to review this disclaimer periodically for changes.

Serrari Group 2023

 

×