Page 138 - ALEF EDUCATION PR REPORT FEBRUARY 2025

Alpha Data raises $163m from Abu Dhabi IPO

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.

Alpha Data shares are expected to begin trading on the ADX on or around March 11 under
the ticker symbol “ALPHADATA”, it said.

The company, which has a total issued share capital of Dh30 million, expects to distribute

a dividend of Dh130 million in 2025.

The “strong demand” for Alpha Data's IPO is “a testament to the market’s confidence in our
business model, strategic vision and our standing as a home-grown UAE family business”,
Fayez Ibbini, founder and chief executive of Alpha Data, said.

Alpha Data, established in 1981, is the latest company seeking to sell shares to the public
amid a listing boom driven by robust investor demand for new issues.

https://www.msn.com/en-ae/money/news/alpha-data-raises-163m-from-abu-dhabi-
ipo/ar-AA1zOvFo?ocid=BingNewsSerp#