Dubai private school operator Taaleem announced its intention to proceed with an initial public offering (IPO) and to list its ordinary shares on the Dubai Financial Market (DFM).
Through the offering, Taaleem seeks to raise a total capital of AED750 million, with its subscription period opening on November 10 until its closing on November 16, for UAE retail investors, eligible employees and eligible parents.
For professional investors, the subscription period will end on November 17.
“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 chairman of the board of directors, Khalid Ahmed Humaid Matar Altayer said.
Taaleem “intends to use the net proceeds from the offering to expand its premium K-12 schools network,” the company said in a statement.
“Today’s announcement is a bold acknowledgment 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.” the company’s chief executive officer, Alan Williamson added.
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