Today, Tuesday 29 November 2022, the Dubai Financial Market is witnessing the listing and the start of trading of the shares of the “Taleem Holding” group, under the commercial code “TAALEEM” and the identification number “AEE01136T220”.
The subscription of the shares of the group, which manages schools in Dubai, began on 10 November 2022, offering 25% of its capital, equal to 250 million treasury shares, through a capital increase.
The shares offered have been split in three tranches, the first for natural persons, to whom 10% of the shares offered were assigned, against 88% for professional investors, while 2% was intended for qualified employees and parents.
The share’s final offering price has been set in 3 dirhams per share, i.e. at the high end of the price range, bringing the market value of Education Holding Group at the time of listing to around 3 billion dirhams.
The total demand for the offering was over 13.7 billion dirhams, indicating that the underwriting exceeded the shares offered by 18 times.
And “Taleem” he had said in previously planning to raise 750 million dirhams ($204.21 million) in an initial public offering to expand the network of distinguished schools.
Interestingly, ‘Taleem Holding’ group is one of the largest education providers for K-12 stages (Kindergarten to Secondary) in the UAE and owns, as of 31 August 2022, a portfolio consisting of 26 schools.
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