Dubai, UAE— Taaleem, Dubai school operator, said on Monday it plans to raise $204.21 million in an initial public offering to expand its premium schools network.
Taaleem will offer 10% of its shares to retail investors starting Nov 10, and 88% of its shares to professional investors on Nov. 17, with a listing expected around Nov. 29, it said in its intention to float document.
Commenting on the launch of Taaleem’s IPO, the Chairman of Taaleem’s Board of Directors, Khalid Ahmed Humaid Matar Altayer, said, “I am immensely proud of Taaleem as it takes this significant, milestone step in its growth journey. The IPO provides an attractive investment opportunity for investors to participate in the next phase of the company’s growth through the expansion of its premium K-12 segment, providing the platform for Taaleem to educate, inspire, and empower the students of today and tomorrow.”
Another 2% will be offered to Eligible Employees and Eligible Parents, it said in the document.
Taaleem, one of the largest providers of early childhood, primary and secondary education, was founded in 2004. In 2007, the school operator was backed by Investment Corporation of Dubai, an investment arm of the Dubai government.