Alef Education Holding plc has announced its plans for an Initial Public Offering (IPO) and listing of its ordinary shares on the Main Market of the Abu Dhabi Securities Exchange (ADX). The company, majority owned by Abu Dhabi Capital Group (ADCG), aims to enhance its growth prospects through this strategic move. ADCG is one of the largest private institutional investment groups in the Middle East and North Africa, with a diversified portfolio across various asset classes, industries, and geographies. The IPO will see the Selling Shareholders divesting 20% of Alef Education's total issued share capital, equivalent to 1,400,000,000 shares. These shares will be sold by Tech Nova Investment – Sole Proprietorship LLC and Kryptonite Investments LLC.

The subscription period for the First Tranche offer, which includes individual investors and other eligible investors, will run from May 28 to June 4, 2024. The Second Tranche offer, targeting professional investors, will be open from May 28 to June 5, 2024. Notably, the Internal Shariah Supervision Committee of First Abu Dhabi Bank PJSC has confirmed that the offering is compliant with Shariah principles, though investors should perform their own due diligence. The anticipated trading of Alef Education's shares on the ADX is set for around June 12, 2024.