Aleph Group, which provides tech platforms with ad distribution services in emerging countries, withdrew its plans for an initial public offering on Tuesday. It originally filed in February 2022 with an estimated deal size of $300 million. The company last updated its prospectus in October 2022.
The Dubai, United Arab Emirates-based company was founded in 2005 and booked $210 million in revenue for the 12 months ended June 30, 2022. It had planned to list on the NYSE under the symbol ALEF. J.P. Morgan, Citi, Goldman Sachs, BofA Securities, UBS Investment Bank, Deutsche Bank, BNP Paribas, and Macquarie Capital were set to be the joint bookrunners on the deal.
