Alpha Data began trading on the Abu Dhabi Securities Exchange (ADX) on Tuesday after raising Dh600 million ($163 million) in its initial public offering, marking the UAE’s first IPO of 2025 and the exchange’s second listing.
The offering, which saw double-digit oversubscription, involved the sale of 400 million shares at Dh1.50 each, representing 40% of the company’s issued share capital. The listing gives Alpha Data, a UAE-based digital transformation and systems integration firm, a market capitalisation of approximately Dh1.5 billion ($408 million).
The IPO is part of ADX’s broader strategy to attract companies in high-growth sectors such as AI, big data, cloud computing and the Internet of Things. Alpha Data’s listing also supports ADX’s goal of bolstering Abu Dhabi’s capital market development and economic diversification efforts.
The transaction follows the exchange’s recent corporate restructuring under the ADX Group, which launched subsidiaries AD Clear and AD CSD to streamline trading, clearing and settlement processes. The group aims to position Abu Dhabi as a global capital markets hub.
Alpha Data’s IPO comes amid renewed momentum in the region’s equity capital markets, with the Gulf seeing a rise in listings despite broader global market uncertainty. The UAE is expected to remain a key destination for regional IPOs in 2025, with state-linked and private companies tapping public markets to fund growth.
