Abu Dhabi Securities Exchange Welcomes the Listing of Alef Education on its Main Market
Abu Dhabi Securities Exchange Welcomes the Listing of Alef Education on its Main Market
▪ First-ever education technology (EdTech) company to be listed in the UAE
▪ Total of AED 1.89 billion raised
▪ Oversubscribed 39 times
Abu Dhabi(News Desk)::Abu Dhabi Securities Exchange (ADX), one of the fastest-growing exchanges in the world, welcomedthe successful listing of Alef Education Holding plc (“Alef Education”) today, MENA’s leading provider of AI-powered learning solutions created and headquartered in the UAE. The listing marks the first-ever education technology company to be listed in the United Arab Emirates. The company began trading under the symbol AlefEdT and is listed in the TECHNOLOGY sector.
Founded in 2016, Alef Education integrates AI technology, data analytics, and personalized learning,
with its platforms being used in around 7,000 schools and serving more than 1.1 million students in the
United Arab Emirates, the United States, Indonesia, and the Kingdom of Morocco. The company
successfully raised AED 1.89 billion during the Shariah-compliant IPO. The 1.4 billion shares issued as
part of the Offering represent 20% of the companys issued share capital and were offered by existing
shareholders Tech Nova Investment – Sole Proprietorship L.L.C and Kryptonite Investments L.L.C. The
strong investor interest, reflected in the retail tranche oversubscribed 39 times, is a testament to the
market’s confidence in Alef Educations growth trajectory and its strategic expansion efforts.
Abdulla Salem Alnuaimi, Group Chief Executive Officer of ADX, shared, “We congratulate Alef Education’s board and management on the milestone listing of Alef Education, the first such EdTech company to go public in the UAE, and warmly welcome Alef to the ADX family. With a market capitalization of AED 9.45 billion, Alef Education is truly a “Made in the Emirates” pride and joy, and ADX is glad to support and enable Alef in achieving its capital-raising strategy. This landmark occasion is a testament to the strong and growing investor demand and interest for such a unique and vital business proposition. Alef Education is also an extension of the country’s commitment and strategic priorities towards education and building a tech-driven, sustainable knowledge-based economy.
“Alef Education resonates deeply with ADX’s ongoing efforts to raise financial literacy, foster innovation
and advocate knowledge inclusivity in the UAE and the wider Arab region.
By harnessing technology and innovation and investing in our young generation and people, we are
better future-proofing our economy and investing in our country’s continuous growth and prosperity.
We are excited about how Alef Education is transforming the educational sector in the region and urge
more investors to invest in their future”.
Geoffrey Alphonso, Chief Executive Officer of Alef Education, said: “We are proud to have successfully
completed our IPO and to embark on this exciting new chapter as a listed company on ADX.
The substantial demand for Alef Education from a diverse group of investors highlights their confidence in
our strong fundamentals and promising growth prospects, as well as the favorable market conditions in
Abu Dhabi and the UAE. We warmly welcome our new shareholders and are committed to consistently
delivering exceptional value to them.”
In 2023, ADX ranked seventh globally for IPO proceeds, hosting six IPOs that raised close to $5.6 billion
(AED 21 billion), with three listings among the top 20 largest IPOs globally for the year, adding more
than AED 350 billion to ADX’s market capitalization, reinforcing strong investor interest in its diverse IPO
portfolio.With a strong emphasis on technology and innovation, ADX continues to enhance its platform. Last year,ADX selected the ICE Global Network from Intercontinental Exchange to offer direct market access to global institutional investors. By leveraging the ICE Global Network, ADX aims to expand its global
investor base by facilitating real-time access to market data and order entry.- Ends –