Markets Alpha Data aims to raise $163m in Abu Dhabi’s first IPO of 2025 By Reuters February 20, 2025, 11:40 AM Pexels/Kampus Production Technology services company Alpha Data is listing Abu Dhabi's first IPO of 2025 UAE technology services company Alpha Data plans to raise up to $163.2 million, the company said on Thursday, in Abu Dhabi’s first initial public offering this year. Alpha Data plans to list 400 million shares in a price range of 1.45 dirhams to 1.50 dirhams, which implies a market value of up to $408 million. The offering consists entirely of existing shares held by investors Bin Hamoodah and Ibbini Investment. Alpha Data expects to distribute a total dividend of 130 million dirhams ($35.40 million) in 2025. The Alpha Data IPO subscription opens February 20 and will end on February 25, and the stock will trade on the exchange on or about March 11. Alpha Data to sell 40% stake in IPO on Abu Dhabi bourse Oman seeks $330m in shipping company IPO IPO for Saudi poultry producer Entaj off to a flying start There has been a wave of IPOs on stock markets in the Gulf in recent years, aided by government efforts to diversify their economies away from oil. Alpha Data reported a net profit of 127 million dirhams and revenue of 2.32 billion dirhams for 2024.
