Alef Education, a leading provider of AI-powered learning solutions, reported a 7% increase in adjusted profit before tax for the first half of 2024, reaching AED249 million. The company's revenue grew to AED750 million in 2023, reflecting a 12.4% increase from the previous year. Alef Education, which serves all public schools and many private schools in the UAE, has announced its plans for an initial public offering (IPO) on the Abu Dhabi Securities Exchange, set to be the first IPO in Abu Dhabi this year. The IPO will offer 1.4 billion shares, representing 20% of the company's equity capital. Alef Education's chairman highlighted the company's growth fueled by increased government spending on digital and AI tools in education.
