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Amanat to list its education platform

By Gavin Gibbon
Amanat's listing represents the third education IPO in the UAE over the past two years Unsplash
Amanat's listing represents the third education IPO in the UAE over the past two years
  • Amanat is Dubai investment company
  • Specialises in health and education
  • Third UAE education IPO in two years

Amanat Holding, an investment company in Dubai, has announced plans to list its education platform.

The move will be the third education-related initial public offering in the UAE in the last two years, following the listing of Dubai’s Taaleem in 2022 and Abu Dhabi’s Alef Education earlier this year.

Amanat, which specialises in healthcare and education investments, agreed this week to appoint advisors for the IPO.

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The company’s education arm 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 company’s education segment increased 24 percent year on year to AED123 million ($33.6 million) in the first quarter of 2024, driven by growth in enrolments at MDX and HDC.

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

The UAE raised $1.3 billion from three offerings in the first half of 2024, including Alef Education, which accounted for 37 percent of the total GCC IPO proceeds but marked a 67 percent decline compared to the previous year.

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