ArabFinance: Shareholders of Dubai-based school management company Taaleem Holdings approved selling a stake in an initial public offering (IPO) on the Dubai Financial Market (DFM), Bloomberg reported on August 30th.
Taaleem’s shareholders ratified converting the company from a private joint-stock company into a public firm through the IPO.
The next step will be book-building which is a process conducted by an underwriter to set the price of the IPO.
Taaleem appointed EFG-Hermes and Emirates NBD Bank to lead the offering.
Founded in 2004, Taaleem focuses on investment in the development and operation of K-12 schools among other educational facilities.