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Alef Education taps banks for IPO this year: Abu Dhabi-based ed-tech company Alef Education has reportedly tapped our friends at EFG Hermes and First Abu Dhabi Bank (FAB) to work on its upcoming initial public offering, expected to take place this year, Bloomberg reports, citing people it says are familiar with the matter. The timing and size of the offering were not disclosed, as talks are still in the early stages and subject to change, according to the sources. An EFG Holding spokesperson declined to comment when Enterprise reached out yesterday.
Alef has been eyeing the bourse debut for some time: The education firm had reportedly held talks last year with advisors about the potential listing, Bloomberg reported in July, citing people in the know.
About Alef Education: Founded in Abu Dhabi in 2016, Alef’s flagship learning platform provides curated study plans for students using AI and machine learning tech, spanning several international markets, such as the UAE, the US, Morocco and Indonesia. The firm also boasts a portfolio of ed-tech platforms, including Abjadiyat, Arabits, and Alef Pathways.
