Education Amanat hires SNB Capital for education business IPO By Pramod Kumar November 28, 2024, 10:50 AM Unsplash.com The listing of Amanat's education business is anticipated in the first half of 2025 Amanat Holdings, a Dubai-listed investment company, has appointed SNB Capital to manage the proposed sale of a 30 percent stake in its education business through an initial public offering (IPO) in Saudi Arabia next year. The listing is anticipated in the first half of 2025, which will raise $300 million, Reuters reported, citing unnamed sources. Additionally, Amanat is expected to rope in more advisers, the report said. In May, the company announced plans for a potential IPO of its education business by creating a new holding company. A lesson in growth for educational technology Dubai private schools face major shortfall of places Alef Education IPO 39 times oversubscribed Its education platform includes Middlesex University Dubai; Human Development Company, a special education and care services provider in Saudi Arabia; and Nema Holding, a privately-held education company in the UAE. This month, Amanat reported a net profit of AED78.4 million ($21.3 million) in the first nine months of 2024, compared to AED88.2 million a year ago. Revenues grew 14 percent year on year to AED566.3 million during the period. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
