Taaleem Holdings, one of the largest K-12 premium education providers in the UAE today announced its intention to proceed with an initial public offering (IPO). The company seeks to raise total capital of 750 million dirhams ($204.19 million) via the offering.
Boasting a portfolio consisting of 26 schools, the company will list its ordinary shares for trading on the Dubai Financial Market (DFM).
The offering is a primary issuance only, and the company intends to use the net proceeds from the offering to expand its premium school network.
In addition, the offering comprises Individual Subscribers (First Tranche), Professional Investors (Second Tranche), and Eligible Employees and Eligible Parents (Third Tranche).
The subscription period will open on November 10, 2022, and end on November 16, 2022, for UAE Retail Investors, Eligible Employees, and Eligible Parents, and on November 17, 2022, for Professional Investors.
The company reserves the right to amend the offering and the tranche sizes at any time prior to the end of the subscription period at its sole discretion, subject to the applicable laws of the UAE and the approval of the Securities and Commodities Authority (SCA).
The Internal Shari’ah Supervision Committee of Emirates NBD has issued a pronouncement confirming that, in their view, the offering is compliant with Shari’ah principles.
Taaleem shares are expected to start trading on or around 29 November 2022.
On this occasion, the Chairman of Taaleem’s Board of Directors, Khalid Ahmed Humaid Matar Altayer, said: “The IPO provides an attractive investment opportunity for investors to participate in the next phase of the company’s growth through the expansion of its premium K-12 segment, providing the platform for Taaleem to educate, inspire, and empower the students of today and tomorrow.”