"Alpha Data" opens subscription for individual and professional investors

Today, Thursday, February 20, 2025, the subscription process for individual and professional investors began for a 40% stake in the capital of the Emirati company Alpha Data, which specializes in digital transformation, to raise AED 600 million (approximately $163 million) with the launch of the initial public offering on the Abu Dhabi Securities Exchange, according to a press release.

Alpha Data's offering was covered across a price range between AED 1.45 and AED 1.50 per share, which implies a market value for the company upon listing of between AED 1.45 billion and AED 1.50 billion.

The final price is expected to be announced on February 26, the day after the end of the subscription period on February 25, with trading set to begin around March 11.

The entire stock was sold immediately after the opening of the subscription door, among the main signs of initial public offerings in the region.

Alpha Data shares price stability

The offering includes the offering of 400 million ordinary shares sold by current shareholders, Bin Hamoodah Company and Al-Abbani Investment Company, with 95% of the offering shares allocated to “professional investors” or institutions, and 5% to individual investors, the company’s statement specifies. Alpha Data referred to the Safi Water Fund “Emirates Investment Authority” in the subscription of up to 5% of the offering shares, to be fully allocated before the activation of the allocation to subscribers from professional investors.

Alpha Data in Saudi Arabia and Qatar

“Thanks to our long-standing presence in the Kingdom of Saudi Arabia and Qatar, Volkswagen is well positioned to achieve further growth across its core businesses in the winter, supported by our headquarters in the United Arab Emirates,” according to Fayez Al-Abbani, the local and CEO of the company, in the statement.

The company will be held privately by shareholders after the delisting for a 180-day lock-up period, depending on timing. EFG Hermes UAE and Emirates NBD Capital Ajyal are the global coordinators, with Abu Dhabi Commercial Bank acting as Diem’s bookrunner.

Alpha Data was founded in 1981 and its technologies include artificial intelligence, mobility, browsing, the Internet of Things, big data and cloud computing, according to its website.