Alpha Data, a leading UAE-based technology services firm, has announced plans to offer 40% of its capital through an initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX). The move will involve selling 400 million shares currently held by Bin Hamoodah Company and Ibbini Investment Company.
Financial Performance
The company reported a net profit of AED 127 million in 2024, with total revenues reaching AED 2.32 billion. The strong financial position is expected to attract significant interest from investors.
IPO Subscription and Pricing
The IPO subscription will be open from February 20 to 25, 2025, and will be available to both UAE retail and professional investors. The offer price will be determined through a book-building process, with the listing expected to take place in March 2025.
Dividend Policy
Alpha Data has announced a dividend payout of AED 130 million for the fiscal year ending December 31, 2025. The company also plans to maintain a minimum dividend payout of 80% of net profits, distributed semi-annually in April and October.
Advisors and Underwriters
EFG-Hermes and Emirates NBD Capital have been appointed as joint global coordinators and bookrunners, while Abu Dhabi Commercial Bank will serve as a joint bookrunner for the IPO.
Company Background
Founded in 1981, Alpha Data provides customized IT solutions, including software, networking, and storage services. The company collaborates with various hardware providers to offer comprehensive technology solutions.
First IPO of 2025 in the UAE
This IPO marks the first public offering in the UAE for 2025, highlighting Alpha Data's strategic move to expand its presence in the region's growing technology sector. The listing is expected to further strengthen the company’s market position and provide new investment opportunities.