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2/28/25, 4:14 PM Alpha Data Announces 40% Stake Sale in ADX’s First 2025 IPO | Arabian Post
Alpha Data Announces 40% Stake

Sale in ADX’s First 2025 IPO

Arabian Post Staff -Dubai

Alpha Data, a prominent UAE-based technology
services firm, has unveiled plans to list on the Abu

Dhabi Securities Exchange by offering 400 million
shares, representing 40% of its capital. This move

marks the inaugural public offering on the ADX for
2025. The shares being offered are currently held
by Bin Hamoodah and Ibbini Investment, who retain

the discretion to adjust the offering size before the
subscription period concludes.

In the fiscal year 2024, Alpha Data reported a net profit of AED 127 million and revenue totaling AED

2.32 billion. The company has engaged EFG Hermes and Emirates NBD Capital as advisors for the
potential share sale. While the specifics of the sale are preliminary and subject to change, the firm is
reportedly aiming to raise approximately $200 million through this listing.

A D V E R T I S E M E N T

The ADX is poised to witness several major IPOs this year, including the Gulf’s first airline IPO by
Etihad Airways, which has already engaged advisors for the sale, and supermarket chain LuLu Group.

Additionally, the exchange recently saw the IPO of edtech firm Alef Education.

Alpha Data’s decision to go public aligns with a broader trend of private-sector companies in the GCC
region pursuing IPOs, particularly in sectors such as e-commerce and IT. Analysts anticipate that

private-sector IPOs in the GCC will range between $300 million to $500 million this year, with
government listings likely to be larger.

The ADX has been actively encouraging private companies to list, aiming to diversify its offerings and
attract a broader range of investors. Alpha Data’s IPO is expected to contribute to this diversification

and provide investors with exposure to the growing technology services sector in the UAE.

See also Dubai’s $100 Million Mansions Target Ultra-Wealthy Buyers

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