Dubai-based school operator Taaleem Holdings has raised AED 750 million ($204 million) in its IPO after setting the final price at AED3 per share.   

The subscription demand reached over AED13.7 billion, implying an oversubscription level of 18 times, the company said in a statement on Friday.   

The company’s market capitalisation at listing is expected to be around AED3 billion. The school operator is selling 254.2 million shares, or a 25.3% stake.   

The stock is expected to start trading on the Dubai Financial Market (DFM) on November 29.   

EFG-Hermes and Emirates NBD Capital are the lead managers for the offering. 

(Writing by Brinda Darasha; editing by Cleofe Maceda)