ANOTHER HIGH IN DUBAI’S IPO STORY

“Formerly Beacon Education, Taaleem was founded in Dubai in 2004. Currently, it operates 26 schools in the UAE, providing more than 27,000 students with IB as well as British and American curriculums.

Total gross demand for the offering amounted to over Dh13.7 billion, implying an over-subscription level of 18 times.

Taaleem’s IPO is Dubai’s fifth of the year, an achievement as major developed markets have seen their primary markets drying up.

It is the most recent in a succession of Gulf IPOs that have bucked market trends in the face of increased liquidity from high oil prices, inflation that is relatively low compared to other regions, strong investor demand, and a lack of equity offers elsewhere.”

— Vijay Valecha, Chief Investment Officer at Century Financial