Alpha Data, a UAE-based digital transformation provider and system integrator, has set the price range for its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX) between Dh1.45 and Dh1.50 per share. This implies a market capitalisation at listing between Dh1.45 billion ($395 million) and Dh1.50 billion ($408 million).
The offering will comprise 400 million shares, representing 40% of the Group’s total issued share capital. All shares are being sold by existing shareholders, Bin Hamoodah Company and Ibbini Investment Company, who retain the right to amend the offering size subject to regulatory approval.
The IPO will be divided into a UAE Retail Offering (5% of the total offering) and a Qualified Investor Offering (95%). The subscription period runs from 20 February 2025 to 25 February 2025, with the final offer price determined through a book-building process and announced on 26 February 2025. Trading of shares on ADX is expected to commence on or around 11 March 2025.
The Group plans to distribute Dh130 million in dividends for 2025, equating to a dividend yield of 8.7%–9.0% based on the offer price range. The Internal Sharia Supervision Committee of Emirates NBD has confirmed the offering’s compliance with Shariah principles.
Fayez Ibbini, Founder and CEO of Alpha Data, stated that the IPO presents an opportunity to invest in a UAE-based technology business positioned for growth in key markets, including Saudi Arabia and Qatar. The company’s financial performance in 2024 and early 2025 supports expectations of further expansion.
