UAE’s Alpha Data Plans 40% IPO Sale

UAE’s Alpha Data to Launch IPO on ADX, Selling 40% Stake

February 13, 2025

Alpha Data, a United Arab Emirates-based provider of technological services, intends to float on the Abu Dhabi Securities Exchange (ADX) and sell 400 million shares in the nation’s first public offering this year.

Bin Hamoodah and Ibbini Investment Company own all of the shares, which make up 40% of the capital that is being offered for sale. Before the completion of the subscription period, they reserve the right to change the size of the shares at any time.

Emirates NBD Capital PSC and EFG-Hermes have been appointed as global coordinators and joint shareholders. Abu Dhabi Commercial Bank PJSC has been appointed as one of the joint shareholders.

Emirates NBD ISSC claims that the stockholders follow Sharia law.

The subscription period will run from February 20, 2025, to Tuesday, February 25, 2025, for UAE-based professional and retail investors.

The offer price will be determined through a book-building process.

Alpha Data’s IPO is set for March 2025, with shares expected to trade on ADX. The company plans to distribute Dh130 million in dividends for the fiscal year ending December 31, 2025, with equal payouts in October 2025 and April 2026. Afterward, at least 80% will be distributed.

Founded in 1981, Alpha Data provides specialized IT solutions. In 2024, it generated Dh2.32 billion in revenue and earned Dh127 million.