Alpha Data, a leading UAE-based technology company, has launched its highly anticipated initial public offering (IPO) on the Abu Dhabi Securities Exchange. The company announced an offer price range of Dh1.45-Dh1.5 per share, implying a market capitalization of Dh1.45-Dh1.50 billion at the time of listing. This marks the first IPO in the UAE for 2025, with Alpha Data offering 400 million shares, representing a 40% stake in the company.
The subscription period for both UAE retail and professional investors runs from February 20 to February 25, 2025. The retail offering comprises 5% of the total offer size, while the qualified investor offering makes up the remaining 95%. Retail subscribers can apply with a minimum of Dh5,000, with a guaranteed allocation of at least 2,000 shares, subject to availability. Professional investors have a higher minimum application size of Dh5 million.
Alpha Data’s IPO has generated significant interest among investors, offering a unique opportunity to invest in a homegrown UAE family business with strong fundamentals in the Information and Communications Technology sector. The company’s recent expansion into Saudi Arabia and Qatar positions it for further growth across key business verticals, supported by its main operations in the UAE.
The final offer price will be determined through a book-building process, with an announcement expected on February 26. The listing on the Abu Dhabi Securities Exchange is scheduled for March 11, 2025. Alpha Data plans to distribute a dividend of Dh130 million in 2025, further enhancing its appeal to potential investors.
EFG-Hermes and Emirates NBD Capital have been appointed as joint global coordinators and joint bookrunners, with Abu Dhabi Commercial Bank serving as a joint bookrunner. Emirates NBD Bank leads the receiving banks, supported by several other prominent financial institutions. This IPO represents a significant milestone for Alpha Data and the UAE’s technology sector, offering investors the chance to participate in the growth of a promising regional tech company.
