Markets Alpha Data listing brightens up gloomy ADX By Matt Smith March 11, 2025, 5:58 PM Wam Alpha Data was Abu Dhabi's second-most traded stock as 75 million shares changed hands Abu Dhabi bourse debut IT provider outshines main index Share price ends 7% higher Shares in Abu Dhabi’s Alpha Data surged on the company’s bourse debut, outperforming a subdued main market index. The first-day performance of the IT services provider contrasts with the struggles of several companies to list on UAE stock exchanges following initial public offerings in the past 12 months. Alpha Data ended 7 percent higher at AED1.60 and was the second-most traded stock as 75 million shares changed hands. The company raised AED600 million ($163 million) in an IPO that sold 40 percent of its stock at AED1.50 per share. Alpha Data has pledged to distribute AED130 million in dividends for the 2025 financial year, also promising to pay out at least 80 percent of its net profit in dividends thereafter. These commitments probably boosted buying demand among investors and helped the company’s stock surge on its bourse debut. More dual listings expected as IPO trend continues Etihad Airways delays $1bn IPO launch to next month Dubai contractor Alec anticipates $500m IPO Supermarket Lulu Retail Holding’s price ended at AED1.25, down 39 percent on its November 2024 IPO price of AED2.04. Similarly, shares in Alef Education have fallen 22 percent versus its June 2024 IPO price. Both companies are listed on Abu Dhabi’s stock exchange. The emirate’s index ended 0.2 percent lower at 9,376 points, having been down as much as 2 percent in early trade. Gulf bourses have slid this week, mirroring a broader sell-off on global equity markets and following a renewed slump in oil prices that dragged Brent crude to below $70 and down about 6.6 percent in 2025. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
