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UAE’s Taaleem to raise $204m from IPO on Dubai bourse

By Pramod Kumar
Taaleem operates in one of the fastest-growing premium K-12 markets in the GCC Supplied
Taaleem operates in one of the fastest-growing premium K-12 markets in the GCC

Taaleem Holdings, the UAE-based K-12 premium education provider with 26 schools, will launch an initial public offering on the Dubai Financial Market to raise AED 750 million ($204.19 million) to expand its network.

The company will offer 10 percent of its shares to retail investors starting November 10 and 88 percent to professional investors on November 17, it said in its intention to float document.

The remaining two percent will be offered to eligible employees and eligible parents.

The final offer price will be determined through a book-building process, with the listing expected around November 29.

Taaleem’s chief executive officer Alan Williamson said the company operates in one of the fastest-growing premium K-12 markets in the GCC, a market backed by strong economic drivers and government ambition. 

He added that the company caters to rapidly growing segments in the private education market and is the only schools group involved in all three of the UAE’s government-partnership programmes.

EFG Hermes UAE and Emirates NBD Capital have been appointed as joint lead managers for the Shariah-compliant offering, the document stated.

According to the latest EY Mena IPO Eye report, the Mena region witnessed a 288 percent year-on-year increase in the number of companies listing between January and September, raising $14.7 billion in total – up 550 percent on the same period last year.

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