Dubai-listed investment company Amanat Holdings has received approval from Saudi Arabia’s Capital Market Authority (CMA) for the Initial Public Offering (IPO) of its wholly-owned subsidiary, Almasar Alshamil Education. The education provider is set to be listed on the Saudi Exchange’s Main Market (Tadawul) in a significant cross-border capital markets transaction.
Unlocking Value in the Saudi Market
The IPO will see Almasar Education float 30,720,400 shares, which represents 30% of its total share capital. For Amanat Holdings, this move is a key strategic initiative to unlock the value of its Saudi-based assets by tapping into the deep and liquid Saudi stock market. The listing will provide a public valuation for its specialist education platform and attract a new and diverse base of regional investors.
A Diversified GCC Education Portfolio
Almasar Education is a prominent provider of specialist education across the GCC. Its diverse portfolio includes a 60% ownership stake in the Human Development Company, a leading provider of Special Education Needs (SEN) services in Saudi Arabia. The platform also holds key assets in the UAE, including Middlesex University Dubai and NEMA Holding, a provider of higher education across five campuses.
Strengthening Cross-Border Capital Flows
This IPO highlights the growing integration and maturity of capital markets within the GCC. The listing of a Saudi-based subsidiary by a UAE-listed parent company on the Tadawul demonstrates the increasing trend of businesses seeking to list on the region’s most advantageous exchanges to maximize shareholder value and expand their investor reach.
About Amanat Holdings
Amanat Holdings is one of the leading healthcare and education investment companies in the MENA region with a paid-up capital of AED 2.5 billion. Listed on the Dubai Financial Market (DFM), Amanat has a mandate to establish, acquire, and incorporate companies and enterprises in the healthcare and education sectors, and develop, manage, and operate these companies.
Source: Zawya
