Alpha Data, a UAE-based technology services firm, plans to offer 400 million shares in an IPO and list on the Abu Dhabi Securities Exchange (ADX), marking the country’s first public offering this year.
The offering, representing 40% of the company’s capital, is owned by Bin Hamoodah and Ibbini Investment, who may adjust its size before the subscription period ends.
EFG-Hermes and Emirates NBD Capital PSC are joint global coordinators and bookrunners, while Abu Dhabi Commercial Bank PJSC is a joint bookrunner. Emirates NBD ISSC has confirmed Shariah compliance.
Subscription for UAE retail and professional investors runs from 20 to 25 February 2025. The offer price will be set through a book-building process. Shares are expected to list on ADX in March 2025.
For the financial year ending 31 December 2025, Alpha Data plans a AED 130 million dividend, split between October 2025 and April 2026, with a minimum 80% payout thereafter.
Founded in 1981, Alpha Data provides tailored computer-based solutions. In 2024, it recorded AED 127 million in net profit and AED 2.32 billion in revenue.
