Taaleem Holdings, one of the largest K-12 premium education providers in the UAE with a portfolio consisting of 26 schools, has planned to proceed with an Initial Public Offering (IPO) and to list its ordinary shares for trading on the Dubai Financial Market (DFM).
The Final Offer Price will be determined through the application of a book-building process, whereby a subscription orders ledger will be created through the subscription orders made only by Professional Investors.
Taaleem seeks to raise total capital of $204 million, and it intends to use the net proceeds from the offering to expand its premium K-12 school’s network. The Offering consists wholly of primary shares, those newly issued shares in the company for the IPO.
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 10th November 2022 and end on 16th November 2022 for UAE Retail Investors, Eligible Employees and Eligible Parents, and on 17th November 2022 for Professional Investors. Taaleem shares are expected to start trading on or around 29th November 2022.
“I am immensely proud of Taaleem as it takes this significant, milestone step in its growth journey. 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.”
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).