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EDUCATION FIRM TO RAISE $204m

Taaleem Holdings announces IPO, to float on DFM

DUBAI, October 31, 2022

Taaleem Holdings, one of the largest K-12 premium education providers in the UAE with a portfolio consisting of 26 schools, today announced its intention to proceed with an initial public offering.
 
The company will list its ordinary shares for trading on the Dubai Financial Market (DFM). 
 
HIGHLIGHTS OF THE OFFERING:
• Taaleem seeks to raise total capital of AED750 million ($204.19 million) via the offering;
• The offering is a primary issuance only, and the company intends to use the net proceeds from the offering to expand its premium K-12 schools network;
• 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; and
• Taaleem shares are expected to start trading on or around 29 November 2022.
 
Chairman of Taaleem’s Board of Directors, Khalid Ahmed Humaid Matar Altayer, said: “I am immensely proud of Taaleem as it takes this significant, milestone step in its growth journey. Taaleem has evolved over nearly 20 years into one of the largest premium schools operators in the UAE. It has been a true success story, delivered with an unwavering commitment to providing premium, quality, affordable education, a robust business model, and strong government partnerships across Dubai, Abu Dhabi and the Northern Emirates. 
 
"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.”
 
Taaleem’s Chief Executive Officer, Alan Williamson, added: “Taaleem operates in one of the fastest growing premium K-12 markets in the GCC – a market that is backed by strong economic drivers and Government ambition. The company caters to rapidly growing segments in the private education market, and we are proud to be the only schools group involved in all three of the UAE’s Government-Partnership Programmes, a position gained through the delivery of strong student outcomes and business performance. Across our British, American and IB curricula schools, Taaleem is performing at, or above, expectations in all National Agenda parameters, as reflected in all National agenda parameters. 
 
"Our mix of 10 Premium and 16 Government-Partnership Schools provides diverse opportunities for our more than 27,000 students and more than 3,000 employees as at 31 August 2022 for the 2022-2023 academic year. It also provides investors with an attractive opportunity to invest in two distinct and fast-growing segments of the UAE education market. 
 
“Today’s announcement is a bold acknowledgement of our progress to date. It will further enable our aspirations of delivering more for our students than they ever dreamed possible. With the additional capital being raised through our IPO, the ambition and drive of our people and the trust placed in us by our students, parents and wider communities, I'm confident our IPO will help drive a prosperous future for Taaleem,” Williamson said.
 
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.
 
The offering consists wholly of primary shares – those shares being newly issued shares in the company, for the purpose of the IPO – with the company’s intention to use the net proceeds from the offering to expand its premium K-12 segment. - TradeArabia News Service
 



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