Alef Education, a company in the edtech industry, is set to list on the Abu Dhabi Stock Exchange. It operates internationally, with branches in the US, Indonesia, and Morocco, and aims to further its presence in Saudi Arabia and Egypt.
In the fiscal year 2023, the company generated AED 750M in revenue and achieved adjusted EBITDA and profit margins of 65% and 61% respectively, serving over 1.1 million students and 7,000 schools globally.
With a contract until 2031 with Abu Dhabi’s education authority, Alef Education has secured revenue streams, bolstering its expansion plans, which include diversifying its product offerings and exploring new markets.
The Chairman of Alef Education’s Board of Directors, Abdulhamid Mohammed Saeed Alahmadi, highlighted the company’s significant impact on the UAE’s education sector and its role as a trusted partner for governments and educational institutions.
CEO Geoffrey Alphonso views the IPO as a pivotal step in Alef Education’s journey to becoming a global leader in educational technology. The company is committed to delivering robust returns to shareholders, with a transparent dividend policy.
The IPO, slated for June, will offer 1.4 billion shares at a price to be determined later. Alef Education, with its stable cash flows from subscription-based contracts and profitable operations, presents an appealing opportunity for investors. Abu Dhabi Capital Group, the majority owner, sees the listing as a chance for new investors to participate in the company’s future growth.
