Alpha Data, a UAE-based digital transformation provider and system integrator, has announced the price range and subscription period for its upcoming IPO on the Abu Dhabi Securities Exchange (ADX).
Founder and CEO Fayez Ibbini stated that Alpha Data has attracted strong interest since revealing its plans to list. He highlighted the IPO as a rare chance to invest in a well-established UAE family business benefiting from ICT sector growth and trends like agentic AI. With recent expansions into Saudi Arabia and Qatar, the company aims to sustain its upward trajectory.
Key IPO Details
The price range is set between Dhs1.45 and Dhs1.50 per share, valuing Alpha Data between Dhs1.45bn ($395m) and Dhs1.50bn ($408m). The offering comprises 400 million shares, representing 40% of the company’s issued share capital. Existing shareholders, Bin Hamoodah Company and Ibbini Investment Company, are selling all shares.
The subscription period runs from 20 to 25 February, with the final offer price set for 26 February. Trading on ADX is anticipated from 11 March. Emirates NBD’s Internal Shariah Supervision Committee has confirmed the IPO’s compliance with Shariah principles.
Offering & Subscription Process
The IPO involves selling existing shares, with proceeds directed to selling shareholders. Retail investors can apply for at least Dhs5,000 worth of shares, with a guaranteed minimum allocation of 2,000 shares, subject to demand. Qualified investors must invest a minimum of Dhs5m. The Emirates Investment Authority may subscribe for up to 5% of the offer shares before other allocations.
Selling shareholders are subject to a 180-day lock-up, and a stabilisation manager will oversee transactions for up to 40 million shares to support early trading. EFG-Hermes and Emirates NBD Capital PSC are joint global coordinators and bookrunners, alongside Abu Dhabi Commercial Bank as a joint bookrunner. Emirates NBD Bank is the lead receiving bank, supported by other banks, including Abu Dhabi Islamic Bank and Wio Bank.
The IPO’s completion and listing depend on market conditions and regulatory approvals.
