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  • 31-10-22

    Document: Dubai school operator Taaleem looks to collect USD204.21 mln in IPO

    (MENAFN) Dubai school operator Taaleem stated on Monday that it arranged to collect 750 million dirhams (USD204.21 million) in an initial public proposing to grow its premium schools network.

    Taaleem is going to propose 10 percent of its stakes to retail financers beginning on the 10th of November, and 88 percent of its stocks to top stockholders on the 17th of November, with a registering estimated at nearly the 29th of November, it stated that in its aim to float document.

    Another 2 percent are going to be proposed to eligible workers and eligible parents, it also stated.

    Reuters mentioned in a report in April that the firm was in an initial discussion with banks for a possible float.

    Taaleem, one of the biggest suppliers of initial childhood, primary as well as secondary education in Dubai, was established 18 years ago (2004). In 2007, the school operator was supported by Investment Corporation of Dubai, a financing arm of the Dubai administration.

    MENAFN31102022000045014228ID1105103440

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