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Al Nahda Int'l plans to issue IPO in June
ABU DHABI — The Al Nahda International Education Company, which runs a number of schools in Abu Dhabi, is going public by launching an IPO in June this year.
"We are becoming a joint public stock company registered in Abu Dhabi as necessary permissions have been obtained from regulators," said Saeed Abdullah Al Junaibi, Chairman of the founder's committee of the under-establishment company.
He said the approval of the regulators was obtained after the company had satisfied all requirements and procedures in accordance with the law.
''The decision to convert the company into a PJSC crowned a 25 year-long record of success in educational services made by Al Nahda schools for both boys and girls in the emirate of Abu Dhabi,'' he added.
The move, he said, aims at broadening the base of shareholders and investors as part of an ambitious plan to offer high quality learning services by building more model schools and a university in partnership with the world's top education providers.
''The new PJSC will boost the private sector's role in advancing national efforts to upgrade the educational infrastructure, learning process and spur comprehensive socio-economic development," he maintained.
Al Nahda PJSC, he affirmed, would be the first specialised provider of general and higher education services from kindergarten to university.
"As per regulations of the Ministry of Economy and The Emirates Securities and Commodities Authority (ESCA), the IPO will be open for subscription in next June," he disclosed.
BES, a well known local IPO management company, was named as lead manager of the IPO.
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