Reported 7 months ago
Alef Education Holding Plc's shares fell on their Abu Dhabi debut, a rarity in the Middle East where IPOs typically yield early returns. The shares dropped 13% from the offer price of 1.35 dirhams apiece, contrasting the strong demand before the IPO. The deal was 39 times oversubscribed, raising 1.89 billion dirhams. This debut performance was far below the average from previous years in the Emirate, marking the worst since 2021. Alef Education plans to pay investors a dividend and serves the K-12 sector in multiple countries.
Source: YAHOO