ADX welcomes Alpha Data's listing
This marks the UAE's first IPO and the Exchange's second offering in 2025, reinforcing the Exchange's commitment to broadening the market and offering diversified investment opportunities.
Alpha Data's IPO attracted strong demand from regional and international investors, with the Offering oversubscribed by double digits.
The company raised Dhs600 million ($163 million) through the issuance of 400 million shares, representing 40 per cent of its issued share capital, at the top end of its offer price of Dhs1.50 per share.
Upon listing, Alpha Data's market capitalisation stands at approximately Dhs1.5 billion ($408 million), underscoring its strong position in the UAE's technology sector.
Commenting on the listing, Abdulla Salem Alnuaimi, Group Chief Executive Officer of ADX, said, 'We are delighted to welcome Alpha Data to ADX as the UAE's first IPO of 2025 and our second offering during the year. This milestone reflects our unwavering commitment to providing investors with access to a dynamic and diversified marketplace, particularly in the high-growth digital infrastructure and technology sector. As ADX continues to expand its offering, we are creating greater opportunities for investors to participate in the digital economy.
WAM
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