Global law firm White & Case LLP has advised Taaleem Holdings (Taaleem) on its AED 750 million initial public offering (IPO) on the Dubai Financial Market (DFM), via which it becomes the only dedicated education provider on the DFM at the time of listing.
"Advising Taaleem follows our successful role advising Empower on its recent IPO, as well as our roles advising on the largest IPOs in the Middle East – the DEWA IPO earlier this year and the Saudi Aramco IPO in 2019," said White & Case partner Ali Shaikley, who led the Firm's deal team. "Taaleem's listing supports the growth and diversity of Dubai's capital markets and our work on this transaction further highlights our cross-sector capabilities and makes us the standout legal advisor for headline IPOs in the Middle East."
The Taaleem IPO raised AED 750 million (US$204 million) in proceeds and, on listing, it will have an expected market capitalization of approximately AED 3 billion (US$817 million). Taaleem sold 250 million shares, or a 25 percent stake, with the 18 times oversubscribed IPO drawing strong demand from UAE and international investors.
The White & Case team that advised on the transaction was co-led by partner Ali Shaikley (Dubai) and local partner Ibrahim Soumrany (Dubai), and included partner Abdulwahid Alulama (Abu Dhabi & Dubai) and associates Roger Gaspard, Ola Sanni, Cassy Raby, Sam Manful, Noren Bhulji (all Dubai), Farah Atef (Cairo) and Andrew Scott (London).
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