The start of the subscription period for all segments

“Education” sets the price range for its offering between 2.95 and 3 dirhams per share

The group intends to use the net proceeds from the offering to expand its network of schools.

From the source

Taaleem Holding Group announced yesterday, the start of the subscription period for the initial public offering, and the setting of the price range for the offering shares between (2.95 and 3 dirhams) per share, which means that the market value of the shares will range between 2.962 and three million dirhams, while it is expected that the final offering price will be announced in November 18, and the shares will be listed and traded on the Dubai Financial Market on November 29, 2022.

The group explained in a statement that the price range includes a total of 254 million and 237 thousand and 288 shares, representing 25.32% of the Taaleem Group's capital at a price of 2.95 dirhams per share, and a total of 250 million shares, representing 25% of the group's capital at a price of three dirhams per share.

The group seeks to increase its capital by a total of 750 million dirhams.

The final offering price will be determined by following the share price building mechanism, whereby a record of subscription orders is created through requests submitted by professional investors only.

The offering consists entirely of new shares, which are the newly issued shares in the group to increase the capital.

The group intends to use the net proceeds from the offering to expand its network of schools (from kindergarten to high school).

The subscription period for each of the first, second and third tranches started from yesterday and ends on November 16 for the first and third tranches, while it ends on November 17 for the second tranche.

Taaleem Group CEO Alan Williamson said: “We have seen great interest in the initial public offering of our group since the announcement of our intention to offer our shares on October 31, 2022. qualified.”

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