‘Taaleem’ announces offer price range

Taaleem Holdings announced the price range and start of the subscription period for its initial public offering (IPO) on the Dubai Financial Market (DFM). Alan Williamson, Chief Executive Officer of Taaleem, said, “We have seen strong interest in our IPO since announcing our Intention to Float on 31st October 2022. Today, we are pleased to open subscriptions for all retail investors, professional investors and our school community through the parents and employees tranche.

“Taaleem has delivered a solid growth story for nearly 20 years with particularly strong revenue and EBITDA growth between 2020 and 2022. Additionally, the Dhs750 million proceeds from this IPO will help fund and accelerate the expansion of our K-12 premium schools network in the UAE and we will be even better positioned to provide greater access to our high-quality, aspirational education offering.”

The price range for the Offering has been set at between Dhs2.95 and Dhs3.00 per share, implying a market capitalisation at time of listing of between Dhs2,962 million and Dhs3,000 million (and a market capitalization as at the date of this announcement of between Dhs2,213 million and Dhs2,250 million). The final offer price is expected to be announced on 18 November 2022.

Listing of the shares and trading on DFM is expected to commence on 29th November 2022.The price range implies the issuance of a total of 254,237,288 new shares, representing 25.32% of Taaleem’s share capital, at a price of Dhs2.95 per share, and a total of 250,000,000 new shares, representing 25.00% of Taaleem’s share capital, at a price of Dhs3.00 per share.The Company is seeking to raise total capital of Dhs750,000,000.