Dubai’s Taaleem plans to raise $204.21 million in an IPO

The operator of Taaleem, a network of upscale schools in Dubai, announced on Monday that it intended to raise 750 million dirhams ($204.21 million) in an IPO to fund the growth of its network.
Taaleem will offer 10% of its shares to retail investors starting Nov. 10, and 88% of its shares to professional investors on Nov. 17, with a listing expected around Nov. 29, it said in its intention to float document.
Another 2% will be offered to eligible employees and eligible parents, it added.
Taaleem, one of the largest providers of early childhood, primary and secondary education in Dubai, was founded in 2004. In 2007, the school operator was backed by Investment Corporation of Dubai, an investment arm of the Dubai government.
Dubai’s deputy ruler, Sheikh Maktoum Bin Mohammed, announced plans in last November to list 10 government-linked entities.