Page 134 - ALEF EDUCATION PR REPORT FEBRUARY 2025

3/12/25, 3:38 PM Alpha Data raises $163m from Abu Dhabi IPO | The National

Alpha Data will trade on the Abu Dhabi Securities Exchange under the ticker symbol 'ALPHADATA'. Victor Besa /
The National

Business Markets

Alpha Data raises $163m from Abu Dhabi IPO

The company's shares are expected to begin trading on the Abu Dhabi Securities Exchange next month

Alvin R Cabral
February 26, 2025

UAE technology company Alpha Data has raised Dh600 million ($163 million) from its initial

public offering on the Abu Dhabi Securities Exchange, setting the price at the top of the range.

The company closed the books at Dh1.50 per share, which implies a market capitalisation of Dh408

million at the time of its listing, Alpha Data said on Wednesday.

Bin Hamoodah Company and Ibbini Investment, the selling shareholders, offered 400 million
shares, which is 40 per cent of its issued share capital.

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