{"id":565414,"date":"2021-04-07T13:40:19","date_gmt":"2021-04-07T13:40:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/07\/taaleem-shares-pop-6-in-egx-debut\/"},"modified":"2021-04-07T13:40:19","modified_gmt":"2021-04-07T13:40:19","slug":"taaleem-shares-pop-6-in-egx-debut","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/07\/taaleem-shares-pop-6-in-egx-debut\/","title":{"rendered":"Taaleem shares pop 6% in EGX debut"},"content":{"rendered":"

<\/a> Higher education outfit Taaleem saw its shares rise a bit over 6% in their <\/strong>first day of trading<\/strong>, closing at EGP 6.10 after opening at EGP 5.75. The company\u2019s sale of 49% of its shares in its EGX debut \u2014 under the ticker TALM \u2014 marks the first real IPO<\/a> on the EGX since 2019. The offering saw 46.55% of the company\u2019s shares placed with institutional investors in a private placement and another 2.45% stake sold to retail investors, according to an EGX statement (pdf)<\/a>.<\/p>\n

Appetite was strong going in:<\/strong> The retail portion of Taaleem\u2019s IPO closed more than 29x<\/a>oversubscribed<\/a> last week, while the offering to institutional orders was 2.34x oversubscribed<\/a>.<\/p>\n

Some 65% of the private placement shares were placed with international institutions<\/strong> from the GCC, the United States, South Africa and the United Kingdom, Hisham Gohar, CEO for the investment bank at CI Capital, said at the opening bell this morning. Gohar expects IPO activity to pick up steam in 3Q2021 as momentum grows, backed by a wider market recovery, according to a report in Hapi Journal<\/a>.<\/p>\n

What makes Taaleem so attractive?<\/strong> We have the rundown on Taaleem and its fundamentals here<\/a>, or you can check out their investor deck here (pdf)<\/a>.<\/p>\n

Post-IPO shareholder structure:<\/strong> The selling shareholder \u2014 an SPV named Sphinx Obelisk \u2014 now holds 51% of Taaleem, while CI Capital investment vehicle Egy Edu Invest holds 30.6% and Ahmed Badreldin\u2019s RMBV holds the remaining 20.4%, according to a Q&A Taaleem prepped on the transaction (pdf)<\/a>.<\/p>\n

The country\u2019s first \u201cdigital\u201d IPO: <\/strong>\u201cThis is the first IPO to be promoted virtually through digital communication channels,\u201d Taaleem Chief Executive Officer Mohamed El Rashidi said. \u201cAchieving strong subscription coverage virtually paves the way for a new IPO marketing model and will stimulate companies to accelerate their listing plans.\u201d<\/p>\n

Taeleem is looking to invest EGP 1 bn in new and ongoing projects over the next three <\/strong>years<\/strong>, managing director Mohamed El Rashidi said at the press conference, according to Hapi Journal<\/a>. The funds will be used to finance the construction of new universities and wrap up work on the company\u2019s current projects. Taleem has so far spent some EGP 750 mn in the past three years on higher education projects like Nahda University in Beni Suef.<\/p>\n

Advisors: <\/strong>Our friends at CI Capital, who are also shareholders in Taaleem, ran the sale and served as bookrunners for the offering. MHR & Partners in association with White & Case served as counsel to CI Capital, while Matouk Bassiouny & Hennawy provided domestic counsel to Taaleem. PwC has served as auditor for the transaction, and BDO is the independent financial advisor. Inktank is Taaleem\u2019s IR advisor.<\/p>\n","protected":false},"excerpt":{"rendered":"

Higher education outfit Taaleem saw its shares rise a bit over 6% in their first day of trading, closing at EGP 6.10 after opening at EGP 5.75. The company\u2019s sale of 49% of its shares in its EGX debut \u2014 under the ticker TALM \u2014 marks the first real IPO on the EGX since 2019. […]<\/p>\n","protected":false},"author":1,"featured_media":565415,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10060],"tags":[73,68,633,78,408],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-565414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-ipo-watch","tag-education","tag-egx","tag-enterprisepm","tag-ipo-watch","tag-taaleem","wpautop","entry"],"acf":{"mongo_id":"94e97ae5-4a3e-46a4-8dca-243163201344","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/4\/362.jpg","photo_position":"above","related_issue":[565410],"teaser":"","voice_url":""},"yoast_head":"\nTaaleem shares pop 6% in EGX debut - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/07\/taaleem-shares-pop-6-in-egx-debut\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Taaleem shares pop 6% in EGX debut\" \/>\n<meta property=\"og:description\" content=\"Higher education outfit Taaleem saw its shares rise a bit over 6% in their first day of trading, closing at EGP 6.10 after opening at EGP 5.75. 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The company will offer up to 49% of its shares\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":561215,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/30\/taaleem-prices-ipo-amid-strong-institutional-investor-appetite\/","url_meta":{"origin":565414,"position":3},"title":"Taaleem prices IPO amid strong institutional investor appetite","author":"enterpriseam admin","date":"30 March 2021","format":false,"excerpt":"CI Capital has priced the IPO of multi-brand higher education player Taaleem Management Services at EGP 5.75 per share, roughly the midpoint of the EGP 5.48-6.02 range announced in the prospectus last week amid strong investor demand. The offering to institutional shareholders was 2.34x oversubscribed, and pricing values the offering\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/351.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561689,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/18\/taaleem-net-income-up-17-in-1h-fy2020-2021\/","url_meta":{"origin":565414,"position":4},"title":"Taaleem net income up 17% in 1H FY2020-2021","author":"enterpriseam admin","date":"18 April 2021","format":false,"excerpt":"Higher education outfit Taaleem reported EGP 129.6 mn in net income during 1H FY2020-2021, rising 17.5% y-o-y from the year before, according to the company\u2019s first earnings release (pdf) as a publicly traded company. Taaleem's revenues also rose 17.1% y-o-y during the six-month period to EGP 317.1 mn, breaking a\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":562124,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/idh-shares-to-go-live-this-month\/","url_meta":{"origin":565414,"position":5},"title":"IDH shares to go live this month","author":"enterpriseam admin","date":"9 May 2021","format":false,"excerpt":"Integrated Diagnostics Holding (IDH) shares are expected to begin trading on the EGX on 20 May after the Financial Regulatory Authority (FRA) gave the all-clear last week for the London-listed company\u2019s dual listing, IDH said in a statement on Thursday. The company is planning to list a 5% stake (some\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/66.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/565414","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=565414"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/565414\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/565410"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/565415"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=565414"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=565414"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=565414"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=565414"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=565414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}