Alef Education, an AI-powered education solutions provider based in Abu Dhabi, has announced plans to list 20 percent of its shares on the Abu Dhabi Securities Exchange.
Founded in 2016, Alef Education develops integrated technology and digital education resources for schools, teachers and students across K-12. It serves all public schools in the UAE through its personalised learning platforms.
Internationally, edtech firm has operations in the US, Indonesia and Morocco. It intends to expand further in Saudi Arabia and Egypt.
In the financial year 2023, Alef Education generated revenues of AED750 million and posted adjusted EBITDA and profit margins of 65 percent and 61 percent respectively. It serves over 1.1 million students and 7,000 schools globally.
The company has a long-term contract with Abu Dhabi’s education authority until 2031, providing revenue visibility. This supports its growth plans, including diversifying product offerings and pursuing opportunities in new markets.
“Since its inception, Alef Education has played a pivotal role in advancing the UAE’s education landscape, delivering a significant, tangible, and positive impact for the students and education communities we serve. We take immense pride in our standing as a trusted partner of choice for both governments and education institutions, catering to their diverse and evolving education and learning requirements,” Abdulhamid Mohammed Saeed Alahmadi, Chairman of Alef Education‘s Board of Directors, said.
CEO Geoffrey Alphonso added that the listing “is an important milestone and natural progression in our journey to maximise our potential and become a global edtech leader. Supported by our transparent dividend policy, we are committed to delivering strong shareholder returns in both the near and long term, and we look forward to welcoming new shareholders in what is an exciting new chapter for Alef Education.”
The IPO in June will sell 1.4 billion shares at a price to be determined later. Alef Education generates stable cashflows from subscription-based contracts and has profitable operations.
Abu Dhabi Capital Group, one of the region’s largest investment firms, is currently the majority owner. The listing will provide an opportunity for new investors to participate in Alef Education’s future growth.
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