Dubai school operator Taaleem seeks to raise $204.21 mln in IPO — document

DUBAI: Dubai school operator Taaleem said on Monday it planned to raise 750 million dirhams ($204.21 million) in an initial public offering to expand its premium schools network.

Taaleem will offer 10 percent of its shares to retail investors starting Nov. 10, and 88 percent of its shares to professional investors on Nov. 17, with a listing expected around Nov. 29, it said in its intention to float document.

Another 2 percent will be offered to eligible employees and eligible parents, it added.