Abu Dhabi Islamic Bank PJSC is pleased to present you the opportunity to subscribe to the Alef Education Initial Public Offering (IPO) on the Abu Dhabi Exchange.

We are pleased to announce the opening of subscriptions for the Alef Education Initial Public Offering, commencing May 28, 2024 and ending on June 4, 2024.

Subscriptions for the retail tranche will start on 28 May 2024 and will end on 4 June 2024

About Alef Education

Established in 2016, Alef Education is an award-winning AI-powered learning solutions provider based in Abu Dhabi that integrates technology, data analytics, and education to redefine teaching and learning experiences across K-12 education. Alef Education is deeply embedded in Abu Dhabi’s education landscape and serves all public schools through its personalised learning platforms and digital content.

Globally recognised for its innovative approach to education, Alef Education has expanded internationally leveraging its proven success in improving educational outcomes, addressing the diverse learning needs of students and empowering educators with practical tools for instruction and assessment.

Key Financial & Operational Performance

  • 7,000 registered schools (across the UAE, US, Indonesia and Morocco)
  • 100% share in the Abu Dhabi public school market
  • 1.1 million registered students (across the UAE, US, Indonesia and Morocco)
  • 12-year long-term minimum fee ADEK contract with 7 years remaining
  • 62% average adjusted EBITDA (earnings before finance cost, taxes, depreciation and amortization) margin (between 2021-2023)
  • AED 750 million in revenue (FY2023)

Key Facts About Alef Education

Where to go for more information:

For more information on Alef Education, the IPO, the subscription criteria and process

ADIB IPO Call Centre:
+971 2 652 0878
This announcement has not been approved by the Securities and Commodities Authority (“SCA”) or any regulator in the UAE or elsewhere and does not form part of the prospectus. This announcement or any related advertisements does not fall under SCA’s remit or jurisdiction.

Terms and conditions apply.​​​​​​​