{"id":92823,"date":"2024-06-07T00:00:00","date_gmt":"2024-06-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/"},"modified":"2024-06-07T00:00:00","modified_gmt":"2024-06-07T00:00:00","slug":"first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/","title":{"rendered":"First Abu Dhabi IPO of the year raises AED 1.89 bn"},"content":{"rendered":"

Abu Dhabi-based edtech firm Alef Education raised AED 1.89 bn from its <\/strong>IPO<\/strong> after pricing it at the top of the initial price range, with over AED 74 bn in orders from local, regional and international investors at the close of the offering period, according to a statement (pdf)<\/a>. The order book was 39x oversubscribed.<\/p>\n

Final share price:<\/strong> The edtech company set its final IPO price at the top of its initial price range at AED 1.35 per share. This gives the company a market cap of AED 9.45 bn and proceeds worth AED 1.89 bn. <\/p>\n

Shares will start trading on the ADX on Thursday, 12 June<\/strong>, under the ticker AlefEdT, the statement reads.<\/p>\n

REMEMBER- <\/strong>Alef\u2019s shareholders, Tech Nova Investment and Kryptonite Investments, are offering<\/a> up to a 20% stake (1.4 bn shares) in an IPO on the ADX. This marks Abu Dhabi's first IPO of the year and the UAE's third, following the successful IPOs of Parkin, which raised AED 1.57 bn<\/a>, and Spinneys, which raised AED 1.38 bn<\/a>.<\/p>\n

What\u2019s next for the company? <\/strong>\u201cLooking ahead, we have ambitious growth plans to expand further into our target markets, broaden our product offering and continue delivering value to our core UAE market,\u201d CEO Geoffrey Alphonso said. <\/p>\n

The annualized dividend yield to shareholders will be a minimum of 7.1%<\/strong>, the company said. Alef had pledged to pay shareholders a minimum dividend payout ratio of 90% of net income for both 2024 and 2025, and is targeting distributing no less than AED 135 mn annually for both years, according to the company\u2019s intention to float (pdf)<\/a>. Dividends will be paid semi-annually, with payouts for the first-half results distributed to shareholders in 4Q of that year, and dividends for the second half paid in 2Q of the following calendar year.<\/p>\n

ADVISORS-<\/strong> FAB and EFG Hermes are acting as joint lead managers and bookrunners. FAB is also the listing advisor and lead receiving bank of the IPO, with Abu Dhabi Islamic Bank, Abu Dhabi Commercial Bank, and Al Maryah Community Bank acting as receiving banks.<\/p>\n","protected":false},"excerpt":{"rendered":"

The final share price is AED 1.35<\/p>\n","protected":false},"author":1,"featured_media":92824,"comment_status":"","ping_status":"open","sticky":false,"template":"","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":[1560],"tags":[1036,1037,313,7,1392,149],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-92823","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-alef-education","tag-edtech","tag-education","tag-enterpriseam-uae","tag-ipo","tag-ipo-watch","wpautop","entry"],"acf":{"mongo_id":"886cf5ca-8333-4ff7-a9aa-025a811156f8","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/244.jpg","photo_position":"above","homepage_title":"","full_issue_title":"First Abu Dhabi IPO of the year raises AED 1.89 bn","related_issue":[92818],"teaser":"The final share price is AED 1.35","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.2e949568-be72-4cb2-b6fa-767f834f7184.mp3"},"yoast_head":"\nFirst Abu Dhabi IPO of the year raises AED 1.89 bn - UAE<\/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\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First Abu Dhabi IPO of the year raises AED 1.89 bn\" \/>\n<meta property=\"og:description\" content=\"The final share price is AED 1.35\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-07T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/244.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"First Abu Dhabi IPO of the year raises AED 1.89 bn\",\"datePublished\":\"2024-06-07T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/\"},\"wordCount\":341,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/244.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Alef Education\",\"edtech\",\"Education\",\"EnterpriseAM UAE\",\"IPO\",\"IPO WATCH\"],\"articleSection\":[\"IPO WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/\",\"name\":\"First Abu Dhabi IPO of the year raises AED 1.89 bn - UAE\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/244.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-06-07T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/244.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/244.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/uae\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"First Abu Dhabi IPO of the year raises AED 1.89 bn\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"name\":\"UAE\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\",\"name\":\"UAE\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42998.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42998.svg\",\"caption\":\"UAE\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"First Abu Dhabi IPO of the year raises AED 1.89 bn - UAE","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/","og_locale":"en_US","og_type":"article","og_title":"First Abu Dhabi IPO of the year raises AED 1.89 bn","og_description":"The final share price is AED 1.35","og_url":"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/","og_site_name":"UAE","article_published_time":"2024-06-07T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/244.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"First Abu Dhabi IPO of the year raises AED 1.89 bn","datePublished":"2024-06-07T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/"},"wordCount":341,"publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/244.jpg?fit=%2C&ssl=1","keywords":["Alef Education","edtech","Education","EnterpriseAM UAE","IPO","IPO WATCH"],"articleSection":["IPO WATCH"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/","url":"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/","name":"First Abu Dhabi IPO of the year raises AED 1.89 bn - UAE","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/244.jpg?fit=%2C&ssl=1","datePublished":"2024-06-07T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/244.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/244.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/uae\/2024\/06\/07\/first-abu-dhabi-ipo-of-the-year-raises-aed-1-89-bn\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/uae\/"},{"@type":"ListItem","position":2,"name":"First Abu Dhabi IPO of the year raises AED 1.89 bn"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/uae\/#website","url":"https:\/\/enterpriseam.com\/uae\/","name":"UAE","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/uae\/#organization","name":"UAE","url":"https:\/\/enterpriseam.com\/uae\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42998.svg","contentUrl":"https:\/\/ent.news\/internal\/42998.svg","caption":"UAE"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/244.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/244.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/244.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts\/92823","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/comments?post=92823"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts\/92823\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/issue\/92818"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media\/92824"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media?parent=92823"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/categories?post=92823"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/tags?post=92823"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/brand?post=92823"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=92823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}