The shareholders of Taaleem Holding Company have agreed to sell the shares in an initial public offering, thus joining the group of Gulf companies that are knocking on the doors of the stock markets.
According to Arabiya Net, the shareholders agreed on Monday to transfer Taaleem from a private joint stock company to a public joint stock company, in preparation for the public offering.
Even as global share sales fell from last year's record levels, Gulf markets were in the midst of an unprecedented boom in IPOs, as high oil prices and stock inflows fueled a local market revival.
However, fears of an economic slowdown due to monetary tightening affected both the Crude Oil and regional indices.
Taaleem, which offers British and American curricula as well as the International Baccalaureate, has chosen EFG Hermes and Emirates NBD to lead the IPO, according to Bloomberg and seen by Al Arabiya.net.
