Taaleem seeks to raise Dh750m via IPO

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.

— issacjohn@khaleejtimes.com