Taaleem lists on Dubai Financial Market after AED 750 million IPO

Taaleem Holdings, a school operator in the United Arab Emirates, began trading on the Dubai Financial Market on November 29, 2022, following an initial public offering that raised AED 750 million. The shares were sold at AED 3.00 each and trade under the ticker symbol TAALEEM.

According to the Government of Dubai Media Office, the offering drew total orders of AED 13.7 billion, about 18 times the amount on offer. The offer price gave the company a market capitalization of AED 3 billion on admission. Taaleem said the proceeds would be used to expand its premium K-12 business through the launch of four new schools in Dubai and Abu Dhabi. The stock is classified in the consumer discretionary sector of the exchange.

At the time of listing Taaleem had a portfolio of 26 schools serving more than 27,000 students, which placed it among the larger education providers in the country. The listing was described as the first on a UAE exchange by a company focused solely on education. Taaleem's chief executive said the company expected growth in the UAE's premium K-12 school market, and that the new schools funded by the offering would extend its portfolio in both emirates.