DUBAI: Dubai school operator Taaleem plans to raise 750 million dirhams ($204.21 million) in an initial public offering, according to Reuters.
The subscription period for the IPO will begin on Nov. 10 and shares will begin trading in Dubai on or around Nov. 29, the company said.
Emirates NBD Capital and EFG-Hermes are the lead managers. Taaleem will set aside 2 percent of the offer shares for eligible employees and parents.
Yellow Door Energy undergoing $1bn expansion
Yellow Door Energy, a Dubai-based distributed solar company, recently closed a $400 million equity transaction to fund over $1 billion worth of projects in the Middle East and Africa, according to MEED.
Actis, the London-based private equity house that controls YDE, has contributed substantially to YDE’s funding.
YDE’s founder and CEO Jeremy Crane expects revenues to exceed $20 million in 2022, more than doubling their 2021 numbers.
YDE builds, finances, and operates distributed solar plants throughout the region. Their projects typically have 10 to 20-year power-purchase agreements.
Operating across seven countries, Jordan, UAE, Pakistan, Saudi Arabia, Bahrain and South Africa, Yellow Door Energy has 106 megawatts in operation and 104 MW awarded and under construction.
The company is planning to expand into two more countries within the next five years.
Dubai real estate market pulls in $19bn for Q3 sales
During the third quarter of 2022, the value of real estate sales in Dubai reached 70 billion dirhams, a report by DXBinteract.com revealed.
There have been 68,500 real estate deals worth 184 billion dirhams since January 2022, marking a 77 percent increase from last year.
The report stated that rents increased by an average of 22 percent across the city, along with an increase in all property categories except ready-made villas, which dropped by 7 percent.
Mortgage transactions decreased by 5 percent to 5,650 deals, according to the report. In spite of this decline, the value reached 31.5 billion dirhams, an increase of 12.4 percent compared to the third quarter of 2021.