The price for the new shares to be issued in the Offering has been set at AED3.00 per ordinary share (the Final Offer Price), the top end of the offering price range.
The company said the total gross demand for the offering was more than AED13.7 billion, which meant the offer was oversubscribed 18 times.
Taaleem’s market capitalization upon listing is expected to be approximately AED3 billion, making it the largest and only dedicated education provider on DFM at the time of listing, it said.
The firm joins a host of companies that have listed on the Middle East market. Dubai’s Emirates Central Cooling Systems Corporation (Empower) on Wednesday drew $34 billion in orders for its $724 million IPO.
In October, healthcare provider Burjeel Holdings raised AED1.1 billion ($299.49 million) after offering a 11 percent stake in an IPO, which was oversubscribed 29 times to over AED32 billion after seeing a significant demand from UAE and outside investors.
At the time of listing in October, Burjeel Holdings is the largest healthcare company trading on ADX, the company said.
Americana Restaurants International, the Middle Eastern operator of KFC and Pizza Hut restaurants, is also set to list.