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Dubai-listed Amanat Holdings will proceed with an initial public offering (IPO) of its education subsidiary, the company said in a bourse statement on Thursday.
Amanat, a healthcare, and education investment company, said it will appoint advisers to the IPO of Amanat Education, which owns Middlesex University Dubai.
The offering is subject to market conditions and upon the company receiving the necessary approvals.
Amanat made a net profit of AED 54 million in Q1 2024. Its education platform increased its profit 23% to AED 59 million while the healthcare platform saw a 36% drop in profit to AED11 million.
Last year, the company had said it is considering monetisation options for its healthcare platform, including a possible IPO for its healthcare platform.
Dubai has seen a wave listing since late 2021, of which most have been state-owned companies.
(Writing by Brinda Darasha; editing by Daniel Luiz)
