Skip to content Skip to Search
Skip navigation

Dubai’s Amanat moves ahead with education platform IPO

Amanat’s education platform includes Middlesex University Dubai Middlesex University Dubai/X
Amanat’s education platform includes Middlesex University Dubai

Amanat Holdings is planning for a potential initial public offering (IPO) of its education platform.

The Dubai-listed healthcare and education investment company aims to monetise its education platform by creating a new holding company. 

Advisors have been appointed to explore the monetisation options to unlock significant shareholder value, the company said in a Dubai Finanical Market filing on Wednesday.



“We look to capitalise on its strong financial performance, market positioning and growth trajectory, and realise significant value for our shareholders,” chairman Shamsheer Vayalil said.

Amanat’s education platform includes Middlesex University Dubai (MDX); Human Development Company (HDC), a special education and care services provider in Saudi Arabia; and Nema Holding, a privately-held education company in the UAE.

Revenue in the education segment increased 24 percent year on year to AED123 million ($33.6 million) in the first quarter of 2024, driven by growth in enrollments at MDX and HDC.

Overall, company revenue reached AED224 million during the same period. 

Net profit grew by 9 percent annually to AED48 million in the first quarter despite being impacted by the introduction of corporate tax.

Latest articles

Russians Turkey Istanbul Bridge

Russians rush from Turkey as costs and restrictions bite

Rising costs, increased difficulties in obtaining residency permits and tighter enforcement of restrictions on the number of foreign nationals who can live in popular regions are prompting an exodus of Russian citizens from Turkey.  The number of Russian nationals holding Turkish residence permits has plunged to just over 96,000 as of May 16, down from […]

Saudi Comac Dongfeng He Bandar al-Khorayef

Chinese planemaker banned by US woos Saudi airlines

The boss of a leading Chinese planemaker arrived in Saudi Arabia this week to pitch his aircraft just as the United States said it was close to finalising a defence agreement with Riyadh that is meant to limit its trade links with China.  Dongfeng He, chairman of Comac, the Commercial Aircraft Corporation of China, wants […]

The UAE's minister of industry and advanced technology, Sultan Al Jaber, left, met Karl Nehammer, Chancellor of Austria, for talks on trade

Austrian finance unicorn to open in UAE

Austria’s first unicorn has announced plans to set up in Dubai, as officials from the UAE hold top-level talks in Vienna to build on a 22 percent increase in bilateral trade last year A unicorn is a startup company valued at more than $1 billion that is privately owned and not listed on a share […]