Dubai school operator Taaleem Holdings’ shareholders have approved the sale of shares in an initial public offering (IPO).
Taleem, which offers British and American curricula as well as the International Baccalaureate, is the latest UAE entity to join existing companies looking to raise its funds through equity markets and will list its shares on the Dubai Financial Market (DFM).
Shareholders on Monday approved the conversion of Taaleem from a private joint stock company into a public entity through the IPO, and will also see a book-building process.
EFG-Hermes and Emirates NBD Bank will lead the IPO for Taleem, as per Bloomberg reports.
Taaleem has not revealed the percentage of share capital it plans to sell to the public, or when it will list its shares.
Creditors and shareholders have 30 days to “object to the conversion.”
Other notable listed entities on DFM include Dubai Electricity and Water Authority (DEWA), Union Coop, Salik, TECOM group and Empower.
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