Time: May 23, 2018
ATAA Educational Company has appointed HSBC Saudi Arabia as financial advisor, lead underwriter and bookrunner, in relation to the proposed Initial Public Offering “IPO” of its shares on the Saudi Stock Exchange “Tadawul”.
Ataa Educational Company is among in the leading companies in the educational sector, having established its first school in 1989. Currently, Ataa operates 12 educational campuses in Riyadh, covering local and international curricula.
To realize its expansion strategy, Ataa has acquired 7 schools since 2013, to reach a total of over 26,000 enrolled students, and 3,700 staff and faculty. As a result of its commitment to delivering high quality educational services, Ataa Educational Company holds, among other certifications, an international quality certificate (ISO 9001), as well as the “AdvancED” academic accreditation.
The CEO of Ataa Educational Company, Ibrahim Abdulkarim Al-Turki, stated that HSBC Saudi Arabia was selected after careful assignment of potential financial advisors, given the leading role HSBC maintains in the local and international capital markets, and its unmatched expertise in public offering and M&A transactions.
The potential IPO will be subject to applying and obtaining necessary regulatory approvals from relevant authorities. — SG