Arab Finance: EFG Hermes, a subsidiary of EFG Holding, has advised on the $515 million initial public offering (IPO) of Alef Education Holding on the Abu Dhabi Securities Exchange (ADX), as per an emailed press release.

Alef Education, an AI-powered learning solutions provider based in Abu Dhabi, offered 20% of its total issued share capital, equating to 1.4 billion existing shares at AED 1.35 per share.

This sale, managed by Tech Nova Investment and Kryptonite Investments, valued the company at AED 9.45 billion.

The IPO covered approximately 39 times. Trading commenced on June 12th under the ticker (AlefEdT).

Alef Education specializes in AI-powered personalized learning solutions for K-12 education.

The company serves 1.1 million students, 50,000 teachers, and 7,000 schools globally.

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