Amanat plans 30% IPO of education business in Saudi Arabia: Sources

Logo of Amanat Holdings

Dubai-listed Amanat Holdings plans to offer 30% of its education segment’s shares in Saudi Arabia next year, Reuters reported, citing informed sources.

Amanat enlisted SNB Capital to conduct the initial public offering (IPO). The company plans to debut during H1 2025 and is looking to engage other advisors, the source added.

The public offering is expected to raise approximately $300 million (around AED 1 billion).

In July, Amanat’s board of directors approved the commencement of the IPO process for the Amanat Educational Platform.

Earlier in May, the board approved a new holding company for the education platform, following the appointment of external advisors and conducting a comprehensive assessment of the potential value-enhancing opportunities for the education platform.

Amanat’s education platform includes Middlesex University, which represents the first campus of Middlesex University outside London, Human Development Co., a provider of private education and healthcare services covering educational, medical, and rehabilitation services in Saudi Arabia, and Nama Holding, the provider of higher education in Abu Dhabi.