Skip to content Skip to Search
Skip navigation

Taaleem CEO plans UAE schools expansion after $204m IPO

The total number of enrolled students at Taaleem schools has risen to 28,218 from 19,412 a year ago

Taaleem, the first education company to be listed on the Dubai Financial Market (DFM), is planning to launch new premium school projects in the UAE “in the near future” following its successful initial public offering (IPO).

The company is also on a global search for the world’s best teachers as it announced net profit increased by 14.1 percent to $13.9 million in the three months to the end of November compared to the same period in the previous year.

In a filing on DFM, Alan Williamson, CEO of Taaleem, said: “The quarter has been one of strong progress with the company’s financial performance ahead of expectations.

“With exciting new projects to be launched in the near future, we will further provide exceptional education establishments to serve the growing communities in Dubai and Abu Dhabi. 

“We are presently in a global search to add even more world-class teachers to our dedicated staff and have been delighted by the overwhelming response to our campaigns and the quality of interest in joining our community of educators.”

Khalid Al Tayer, chairman of Taaleem, added: “As the first education company to be listed on the DFM, the confidence in the company was reflected in the tremendous demand for shares with an oversubscription of 18 times. We warmly welcome the new shareholders and are excited for them to share our continuing story of growth. 

“Our strategic growth plan is right on track to deliver several exciting new projects in the next few years, further adding to the strength and reputation of our rapidly growing portfolio of globally recognised schools.”

Revenue for the quarter was $63.1 million, an increase of 32.4 percent, mainly as a result of organic growth across Taaleem’s portfolio as it continues to scale up.

Alan Williamson, CEO of Taaleem
Alan Williamson, CEO of Taaleem

The total number of enrolled students increased significantly, rising to 28,218 from 19,412 a year ago. This 45.4 percent growth includes a 27 percent increase in enrolments at Taaleem’s portfolio of premium schools and a 64.4 percent jump in the number of students enrolled at its government partnership schools.

The company said it remains well capitalised and has adequate liquidity even when the IPO proceeds are not considered.

In November Taaleem raised $204 million from its IPO, selling 254.2 million shares, or a 25.3 percent stake. The fundraiser attracted strong demand from local and international investors and was more than 18 times oversubscribed.

Latest articles

An Ooredoo shop in Tunis. Tunisia is one of the countries where the company intends to improve connectivity

Ooredoo to spend $1bn upgrading overseas networks

Qatari telecoms group Ooredoo is to spend $1.1 billion upgrading its mobile coverage and quality of servies in a number of key overseas markets. Over the period 2024-26, the company will allocate substantial sums to improve connectivity in Algeria, Tunisia, Gaza and the West Bank, Iraq and the Maldives.  Ooredoo’s operations in Gaza have been […]

IHC revenue

IHC reports marginal profit despite revenue climbing 18%

International Holding Company (IHC) has reported an increase in net profit of just 1.2 percent year on year to AED32.95 billion ($8.97 billion) in 2023, despite an almost 20 percent rise in revenue. IHC – the Middle East’s largest listed holding company, which is listed in Abu Dhabi – is part of a business empire […]

Dubai South Aldar logistics warehouse

Dubai South and Aldar to work together

The state developer Dubai South and the Abu Dhabi-listed Aldar Properties will jointly develop facilities in Dubai South’s logistics district. The new joint venture will offer build-to-lease and build-to-suit facilities. Aldar will lead the design, development and delivery of the new facilities, starting with a Grade A logistics facility with 24,000sq m of gross floor […]

WTO director general Ngozi Okonjo-Iweala said Iraq and Lebanon both want to resume talks and the organisation will 'try to go as fast as possible'

Iraq and Lebanon face long wait to join WTO

Iraq and Lebanon have indicated a desire to resume talks aimed at joining the World Trade Organization (WTO), but history suggests the two could be in for a long wait. To join the WTO, a government has to bring its economic and trade policies into line with the organisation’s rules and principles and negotiate with […]