Dubai school operator Taaleem has announced its plans to raise AED 750 million ($204.21 million) in an initial public offering (IPO).
It intends to use the net proceeds from the IPO to expand its school network.
The IPO will comprise of Individual Subscribers (First Tranche), Professional Investors (Second Tranche), and Eligible Employees and Eligible Parents (Third Tranche).
The subscription period will open on November 10, and end on November 16 for UAE retail investors, eligible employees and eligible parents, and on November 17 for professional investors.
Chairman of Taaleem's Board of Directors, Khalid Ahmed Humaid Matar Altayer, expressed pride at the announcement. "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 shares are expected to start trading on or around November 29.
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