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Taaleem Holdings, one of the largest K-12 quality education providers in the UAE with 26 schools, today announced its intention to conduct an initial public offering.
The company will list its ordinary shares for trading on the Dubai Financial Market (DFM).
Key points of sale:
• Taaleem seeks to raise a total capital of AED750 million (US$204.19 million) through the offering;
• The offering is a one-time offering and the Company intends to use the net proceeds from the offering to expand its network of premium K-12 schools;
• This offering includes Individual Subscribers (Tranche 1), Professional Investors (Tranche 2) and Qualified Employees and Parents (Tranche 3);
• The subscription period for UAE Retail Investors, Qualified Employees and Qualified Parents will start on 10 November 2022 and end on 16 November 2022, and 17 November 2022 for Professional Investors;
• The Company reserves the right to amend the offering and lot size at its sole discretion at any time before the end of the subscription period, subject to applicable UAE law and the approval of the Securities and Commodities Authority (SCA). ;
• The Emirates NBD Internal Shariah Oversight Committee has issued a statement confirming that they consider the offering to be in compliance with Shariah principles; and
• Taaleem shares are expected to begin trading on or about November 29, 2022.
Khalid Ahmed Humaid Matar Altayer, Chairman of the Taaleem Board of Directors, said: “I am incredibly proud of Taaleem as it has taken this landmark and important step in its development. Taaleem has grown for almost 20 years to become the largest quality school in the UAE One of the operators. A true success story with an unwavering commitment to quality, affordable education, a strong business model and strong government partnerships in Dubai, Abu Dhabi and the Northern UAE.
“The IPO presents an attractive investment opportunity for investors to participate in the company’s next phase of growth by expanding its premium K-12 segment, providing Taaleem with the platform to educate, inspire and empower today and Tomorrow’s students.”
Alan Williamson, CEO of Taaleem, added: “Taaleem operates in one of the fastest growing premium K-12 markets in the GCC – a market supported by strong economic drivers and government ambitions. The company caters to A fast growing segment of the private education market, we are proud to be the only school group to participate in all three UAE government partnership programmes, a position achieved by delivering strong student outcomes and business performance. In our UK, US and IB curriculum schools, Taaleem performed at or above expectations across all National Agenda parameters and this was reflected in all National Agenda parameters.
“As of August 31, 2022, our 10 senior schools and 16 government partner schools provide diverse opportunities for more than 27,000 students and more than 3,000 employees in the 2022-2023 school year. It also provides investors with An Attractive Investment Opportunity Two distinct and rapidly growing segments of the UAE education market.
“Today’s announcement is a bold acknowledgment of the progress we have made to date. It will further our desire to give students more than they can dream of. With the additional capital we have raised through our IPO, the ambitions of our employees and motivation and the trust placed in us by our students, parents and wider community, I am confident that our initial public offering will help drive a prosperous future for Taaleem,” said Williamson.
The final offer will be determined by applying a book-building procedure and a subscription order ledger will be created from subscription orders placed only by professional investors.
The offering is comprised entirely of junior shares — shares that are newly issued by the company for its initial public offering — and the company intends to use the net proceeds from the offering to expand its premium K-12 segment. – trade arab news agency
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