Private school operator Taaleem is looking to raise as much as Dh750 million ($204.21 million) from an initial public offering in Dubai to expand its premium K-12 schools network.
Taaleem Holdings PJSC (a public joint stock company under conversion) (the “Company” or “Taaleem”), one of the largest K-12 premium education providers in the UAE with a portfolio consisting of 26 schools, announced this on Monday.
The offering to individual subscribers in its first tranche which will comprise of 10 per cent of its shares starts on November 10.
It will offer 88 per cent of its shares to professional investors in its second tranche on November 17, and eligible employees and parents in the third Third Tranche will be offered 2 per cent.
Commenting on the launch of Taaleem’s IPO, the Chairman of Taaleem’s Board of Directors, Khalid Ahmed Humaid Matar Altayer, said, “I am immensely proud of Taaleem as it takes this significant, milestone step in its growth journey. Taaleem has evolved over nearly 20 years into one of the largest premium schools 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.”
“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,” he added.
Taaleem’s Chief Executive Officer, Alan Williamson, opines, “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.” He mentioned how the company “caters to rapidly growing segments in the private education market”, and how Taaleem is the only schools group involved in all three of the UAE’s Government-Partnership Programmes. “Across our British, American and IB curricula schools, Taaleem is performing at, or above, expectations in all national agenda parameters, as reflected in all national agenda parameters.”
Taaleem has 10 premium and 16 Government-Partnership schools with 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,” Williamson added.
“Today’s announcement is a bold acknowledgement of our progress to date. It will further enable our aspirations of delivering more for our students than they ever dreamed possible. With the additional capital being raised through our IPO, the ambition and drive of our people and the trust placed in us by our students, parents and wider communities, I’m confident our IPO will help drive a prosperous future for Taaleem.”
© Khaleej Times
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