The company said in a statement, that the final price of the shares that will be offered for subscription has been set at 3. 00 dirhams per ordinary share (the final offering price), that is, at the upper limit of the announced price.
The statement pointed out that the volume of the proposal was confirmed in the amount of 750 million dirhams (equivalent to 204 million dollars), as 250 million of the new regular shares, equivalent to 25 percent of the total capital of the education group, added, adding that all the offering returns will go to the group at Settlement to enhance the growth of the group.
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According to the statement, the offering witnessed a great turnout by investors in the UAE and international investors, and the total demand for the offering reached more than 13. 7 billion dirhams (about 3. 7 billion dollars), indicating that subscription requests exceeded 18 times.
Based on the final offering price, the market value of the education group when the listing is expected to reach about 3.
0 billion dirhams, which makes it the largest educational provider specialized in the Dubai Financial Market in terms of the market value at the end of the initial public offering process.
The statement added that the trading operations in the Dubai Financial Market are expected to start on Tuesday, November 29, 2022, according to the conditions of the usual closure.
On this occasion, Alan Williamson, CEO of an Education Group, said: “We plan to use the offering revenues of 750 million dirhams to expand our schools network, so that we can provide additional opportunities for students in the UAE to obtain our high -quality educational services.
As the largest educational provider specialized in the Dubai market Financial, we provide a distinguished investment opportunity that focuses on growth, as our first public offering contributes to increasing growth and diversification of financial markets in Dubai. “.
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