Today's Edition
A.SREENIVASA REDDY (ABU DHABI)
Alpha Data shares started trading on the Abu Dhabi Securities Exchange (ADX) on Tuesday following its initial public offering (IPO) under the ticker ALPHADATA.
A bell-ringing ceremony was held on the trading floor of ADX, marking the debut of Alpha Data’s shares.
Alpha Data shares, which were listed at Dh1.50, were trading at Dh1.58, nearly 5.5% up, at 12.10 pm on Tuesday.
A total of 400 million shares were made available in the IPO, representing 40% of the company’s ownership. The IPO raised a total of Dh600 million (approximately $163 million), implying a market capitalisation at listing of Dh1.5 billion (approximately $408 million).
The IPO was significantly oversubscribed highlighting both the interest and confidence in Alpha Data as a business.
Founder and CEO of Alpha Data, Fayez Ibbini, said, “Today marks a historic milestone for Alpha Data as we take our place as a listed company on ADX. This achievement is a testament to the dedication of our team, the trust of our customers, and the strength of our vision over the last 40 years. As a UAE homegrown company, we are grateful to have benefitted from the business environment that the visionary leaders have established and their forward-looking approach."
For the financial year ending December 31, 2025, Alpha Data intends to distribute a dividend of Dh130 million, payable in two equal instalments in October 2025 and April 2026.
Thereafter, the group expects to distribute dividends on a semi-annual basis (in April and October of each year), with a minimum payout of 80% of the net profit generated for the relevant financial period.
