Page 137 - ALEF EDUCATION PR REPORT FEBRUARY 2025

3/12/25, 3:38 PM Alpha Data raises $163m from Abu Dhabi IPO | The National
The continued economic momentum in the UAE, the Arab world's second-largest economy, has also

boosted listings across sectors on both the Abu Dhabi bourse and the Dubai Financial Market.

Alpha Data's planned listing follows a string of IPOs over the past year. Talabat Holding, the Middle

Eastern unit of Germany's food delivery platform Delivery Hero, raised Dh7.5 billion in
November in what was the Gulf's biggest IPO last year. Also that month, UAE retail major Lulu

Group raised Dh6.32 billion.

Other UAE IPOs last year included NMDC Energy, a unit of Abu Dhabi contractor National Marine
Dredging Company, raising $877 million, and Alef Education, which raised $515 million.

Analysts say the pipeline of IPO deals in the UAE remains strong amid robust expansion of the non-

oil sector in the economy. The government's push to unlock value in state entities, and to sell stakes,
is also supporting deal flows.

Dubai Investments, a diversified company in which the sovereign wealth fund Investment

Corporation of Dubai holds a stake, last month said it plans to take four of its subsidiaries public.

https://www.thenationalnews.com/business/markets/2025/02/26/alpha-data-raises-163m-from-abu-dhabi-ipo/ 4/4