Education Amanat hires SNB Capital for education business IPO By Pramod Kumar November 28, 2024, 10:50 AM Unsplash.com The listing of Amanat's education business is anticipated in the first half of 2025 Amanat Holdings, a Dubai-listed investment company, has appointed SNB Capital to manage the proposed sale of a 30 percent stake in its education business through an initial public offering (IPO) in Saudi Arabia next year. The listing is anticipated in the first half of 2025, which will raise $300 million, Reuters reported, citing unnamed sources. Additionally, Amanat is expected to rope in more advisers, the report said. In May, the company announced plans for a potential IPO of its education business by creating a new holding company. A lesson in growth for educational technology Dubai private schools face major shortfall of places Alef Education IPO 39 times oversubscribed Its education platform includes Middlesex University Dubai; Human Development Company, a special education and care services provider in Saudi Arabia; and Nema Holding, a privately-held education company in the UAE. This month, Amanat reported a net profit of AED78.4 million ($21.3 million) in the first nine months of 2024, compared to AED88.2 million a year ago. Revenues grew 14 percent year on year to AED566.3 million during the period.