Page 144 - ALEF EDUCATION PR REPORT FEBRUARY 2025

The continued economic momentum in the UAE, the Arab world's

second-largest economy, has also boosted listings across sectors on

both 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 in 2024 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.

Updated: February 20, 2025, 11:19 AM
MarketsAbu DhabiIPOs
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