Taaleem seeks to raise Dh750m via IPO

The education provider would be offering 10 per cent of its shares to retail investors starting November 10, and 88 per cent of its shares to professional investors on November 17

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Issac John

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Taaleem Holdings will list its ordinary shares for trading on the Dubai Financial Market.
Taaleem Holdings will list its ordinary shares for trading on the Dubai Financial Market.

Published: Mon 31 Oct 2022, 6:34 PM

Last updated: Mon 31 Oct 2022, 6:35 PM

Taaleem Holdings, one of the largest providers of early childhood, primary and secondary education in Dubai, announced on Monday its intention to proceed with an initial public offering and to list its ordinary shares for trading on the Dubai Financial Market.

Describing the issuance as a significant milestone in its growth journey, Taaleem, which operates 26 schools in the UAE, said it would be offering 10 per cent of its shares to retail investors starting November 10, and 88 per cent of its shares to professional investors on November 17.


Another two per cent will be offered to eligible employees and eligible parents and the listing expected around November 29, the company said in a statement.

Taaleem seeks to raise total capital of Dh750 million via the offering. The company said it predominantly intends to use the net proceeds from the offering primarily to expand its premium K-12 segment, through the contemplated roll-out of four new premium schools in prime locations in Dubai and Abu Dhabi. The roll-out of these four additional new schools is expected to consist of three schools in Dubai and one in Abu Dhabi, including two new schools under the DBS brand, subject to regulatory approvals.


Chairman of Taaleem’s board of directors, Khalid Ahmed Humaid Matar Altayer, said the IPO provides an attractive investment opportunity for investors to participate in the next phase of the company’s growth through the expansion of its premium K-12 segment, providing the platform for Taaleem to educate, inspire, and empower the students of today and tomorrow.”

“Taaleem has evolved over nearly 20 years into one of the largest premium school operators in the UAE. It has been a true success story, delivered with an unwavering commitment to providing premium, quality, affordable education, a robust business model, and strong government partnerships across Dubai, Abu Dhabi, and the Northern Emirates,” said Altayer.

Alan Williamson, Taaleem’s CEO, said the IPO move is a bold acknowledgment of the company’s progress to date.

“Taaleem operates in one of the fastest growing premium K-12 markets in the GCC – a market that is backed by strong economic drivers and government ambition. The company caters to rapidly growing segments in the private education market, and we are proud to be the only school group involved in all three of the UAE’s Government-Partnership Programmes, a position gained through the delivery of strong student outcomes and business performance.

He said the company’s mix of 10 premium and 16 government-partnership schools provides diverse opportunities for more than 27,000 students and more than 3,000 employees. It also provides investors with an attractive opportunity to invest in two distinct and fast-growing segments of the UAE education market, he added.

EFG Hermes UAE and Emirates NBD Capital have each been appointed as joint lead managers.

Emirates NBD Capital (acting in conjunction with Emirates NBD Capital Limited) and EFG-Hermes UAE Limited (acting in conjunction with EFG Hermes) have each been appointed as Joint Global Coordinators.

— issacjohn@khaleejtimes.com


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