Alpha Data climbs 6.667% on market debut in Abu Dhabi
Alpha Data, a leading digital transformation provider and systems integrator in the UAE, on Tuesday rose 6.667 per cent on its listing on the Abu Dhabi Securities Exchange (ADX).
Opening at Dh1.53, the stock rose to Dh1.63 before closing the day at Dh1.60.
This marks the UAE's first IPO and ADX's second offering in 2025.
Alpha Data's IPO attracted strong demand from regional and international investors, with the offering oversubscribed by double digits. The company raised Dh600 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 Dh1.50 per share. Upon listing, Alpha Data's market capitalisation stands at approximately Dh1.5 billion ($408 million), underscoring its strong position in the UAE's technology sector.
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.
The listing of Alpha Data — an industry leader in AI, Big Data, and Cloud solutions — is an extension of the ADX Group's efforts in enabling pioneering businesses to drive innovation and support Abu Dhabi's economic transformation. 'As a key enabler of sustainable growth and capital market development in the region, we will continue to support more private companies to achieve their growth ambitions via the ADX listing platform,' Alnuaimi said.
Fayez Ibbini, founder and CEO of Alpha, commented: 'We are incredibly proud to join the Abu Dhabi Securities Exchange as a homegrown UAE family business after seeing strong demand and support for our strategic vision during our IPO. Our listing marks an exciting new chapter for Alpha Data and is more than just a milestone in our 40-year journey of growth and innovation; it's a commitment to our shareholders and the broader market to keep delivering growth and champion technological developments. We look forward to continue driving digital transformation and delivering exceptional value to our shareholders as we step into this new era.'
ADX's has recently announced the recent launch of ADX Group, which has established advanced trading, clearing, and settlement capabilities through its new subsidiaries, AD Clear and AD CSD. These developments create a more dynamic and efficient marketplace for issuers and investors, cementing Abu Dhabi's status as a leading global financial centre.
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