Abu Dhabi's Alef Education Lists on ADX After 39x-Oversubscribed $515m IPO
AI-powered learning provider Alef Education became the first edtech company to list on the Abu Dhabi Securities Exchange after a heavily oversubscribed offering.
Alef Education, the Abu Dhabi-based provider of AI-powered K-12 learning solutions, has begun trading on the Abu Dhabi Securities Exchange (ADX), becoming the first edtech company to list on the market.
The listing followed a 1.89 billion dirham ($515 million) initial public offering in which Alef sold 20 percent of the company. Investor demand saw the offering many times oversubscribed, with the order book shattering expectations.
The company trades under the symbol AlefEdT and listed with a multi-billion-dirham market capitalisation, and it has signalled plans to pay dividends to shareholders for its 2024 and 2025 performance.