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UAE-based Taaleem Holding Group – one of the largest providers of education services from kindergarten to secondary school – has selected EFG Hermes UAE as lead manager and global coordinator for the initial public offering (IPO) and common stock listing transaction . Dubai Financial Market.
The group seeks to raise around AED750 million from the offering and will expand the K-12 premium sector category (from kindergarten to high school) primarily by developing four new outstanding schools in various locations in Dubai and Abu Dhabi .
It is worth mentioning that the group owns 26 schools.
Of the four new schools, three are expected to be in Dubai and one in Abu Dhabi, including two new schools under the “British Schools in Dubai” brand following regulatory approval.
The offering is divided into three phases, the first phase is for individual investors, the second phase is for employees and parents, and the third phase is for eligible investors.
Subscriptions will open on November 10, with retail investors, employees and eligible individuals in the UAE closing on November 16 and eligible investors by November 17. The shares are expected to be listed and begin trading on the Dubai Financial Market on November 29, 2022.
Taaleem has appointed EFG Hermes Emirates and Emirates NBD Capital as joint global coordinators for the IPO.
Khaled Al-Tayer, Chairman of the Board of Directors of Taaleem Group, said that the company has taken an important step in its development path and Taaleem has grown for almost 20 years to become the second largest education group in the UAE.
He added: “The company is a true success story with its commitment to providing affordable quality education, a strong business model and strong government partnerships in Dubai, Abu Dhabi and the Northern Emirates.”
The IPO provides an investment opportunity to participate in the next phase of the group’s growth by expanding its network of quality K-12 schools.
Alan Williamson, CEO of Taaleem Group, said that the education market in the UAE is supported by a strong economic engine and government ambitions, and the group caters to the fast-growing segment of the private education market, noting that his firm is the only one involved in all three government cooperations in the UAE. project company.
The company has 10 schools and 16 government partner schools, providing diverse opportunities for more than 27,000 students and more than 3,000 employees. It also offers investors the opportunity to invest in two fast-growing sectors of the UAE education market.
“Today’s announcement is a recognition of the progress we have made so far and will fulfill our desire to serve our students even more. I have every confidence that this release will contribute to Taaleem’s prosperous future,” Williamson concluded road.
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