Latest news with #Alnuaimi
Zawya
02-05-2025
- Business
- Zawya
DEWA's Sustainability and Innovation Centre receives delegation from Hong Kong Metropolitan University
Dubai, UAE: The Sustainability and Innovation Centre of Dubai Electricity and Water Authority (DEWA) received a Hong Kong Metropolitan University delegation that reviewed the latest technologies and global innovations in clean and renewable energy, as well as DEWA's flagship projects to achieve net zero. 'The Sustainability and Innovation Centre has become a global incubator for innovation in various areas of renewable and clean energy, and a major landmark in Dubai to highlight achievements in sustainability and net zero. The centre plays a pivotal role in making Dubai a global hub for clean energy and the green economy by encouraging business, investing in the latest clean and renewable energy innovations, and concluding strategic partnerships with major universities, institutions and start-ups locally and globally. The centre further reflects DEWA's efforts to support innovation and achieve the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050 to provide 100% of the emirate's energy production capacity from clean energy sources by 2050,' said HE Saeed Mohammed Al Tayer, MD and CEO of DEWA. Dr Aaesha Alnuaimi, Director of the Sustainability and Innovation Centre at DEWA, briefed the delegation on DEWA's most prominent projects, including the Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world, based on the independent power producer (IPP) model. Alnuaimi also briefed the delegation on the Green Hydrogen project, the first of its kind in the Middle East and North Africa to produce hydrogen using solar energy, and the EV Green Charger initiative, which introduced the region's first public electric vehicle charging infrastructure. Alnuaimi accompanied the delegation on a tour of the centre's exhibition area, featuring more than 30 interactive displays on key historical inventions in electricity and the latest developments in renewable and sustainable energy. The visiting delegation commended the Sustainability and Innovation Centre for its efforts in fostering collaboration between industry and academia, and for its role in driving global initiatives to accelerate the energy transition. The delegation also praised DEWA's projects as exemplary models of sustainable resource development.
Gulf Business
12-03-2025
- Business
- Gulf Business
Alpha Data debuts on ADX, raises Dhs600m from IPO
Image: Supplied The Abu Dhabi Securities Exchange (ADX) welcomed the listing of Alpha Data, a leading UAE-based digital transformation provider and systems integrator, marking the country's first initial public offering (IPO) of 2025 and the exchange's second offering of the year. Upon listing, Alpha Data's market capitalisation stood at approximately Dhs1.5bn, reinforcing its strong position in the UAE's technology sector. The listing strengthens ADX's position as a diversified market, expanding its technology offerings with companies specialising in artificial intelligence (AI), big data, and cloud computing. The exchange continues to enhance its role as a platform for high-growth enterprises seeking access to capital markets. Alpha Data is ADX's second offering during the year '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,' said Abdulla Salem Alnuaimi, group CEO of ADX. 'As ADX continues to expand its offering, we are creating greater opportunities for investors to participate in the digital economy.' 'As a key enabler of sustainable growth and capital market development in the region, we will continue to support more private companies in achieving their growth ambitions via the ADX listing platform,' Alnuaimi added. Fayez Ibbini, founder and CEO of Alpha Data, said: '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.' ADX recently launched ADX Group, which has introduced advanced trading, clearing, and settlement capabilities through its new subsidiaries, AD Clear and AD CSD. Read:
Khaleej Times
11-03-2025
- Business
- Khaleej Times
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.
The National
24-02-2025
- Business
- The National
ADX unveils new 'future proof' market infrastructure
Abu Dhabi Exchange (ADX) is launching new market infrastructure that will introduce more diverse product offerings to attract retail investors as the emirate seeks to boost its capital markets. The "New ADX Group" business model and its two subsidiaries announced on Monday will introduce new post-trade capabilities and services to allow clearing and settlement platforms to operate at a faster rate, encouraging a wider group of investors to participate. The post-trade divisions performing these functions under the model are Abu Dhabi Clear (AD Clear) and Abu Dhabi Depository (AD CSD), aimed at boosting market efficiency to facilitate a greater inflow of capital. The two subsidiaries will do so by integrating multiple asset classes such as equities, exchange traded funds (ETFs), derivatives and debt instruments on to a single platform. Algorithms for high-frequency trading (HFT) will be updated for greater optimisation in addition to the introduction of new and more sophisticated order types for greater trading flexibility. "The ADX Group's new business model aims to transform and future-proof its thriving capital market," ADX said in a statement. The new trading system aims to unlock more investment opportunities and deepen market liquidity by providing investors and industry participants with greater and faster access to market activities and growth sectors in Abu Dhabi, it added. ADX, with a market capitalisation of about $808 billion as of Monday, is the second largest exchange in the Arab World after Saudi Arabia's Tadawul. It ranked as the seventh largest globally for emerging market exchanges last year. It has recorded a surge in initial public offerings in recent years driven by robust investor demand for new issues as well as economic growth in the UAE. The bourse accounted for 27 per cent of IPO proceeds from the Middle East in 2024. In the last five years, ADX has outperformed the MSCI Emerging markets Index with its general index increasing 86 per cent over that period of time, according to the exchange. Total trading value last year reached Dh342 billion, a 7 per cent annual increase, while net foreign investment rose to Dh24 billion, the ADX said this month. Foreign investors accounted for nearly 40 per cent of total trading activity, while institutional investors contributed to 80 per cent of the total trade value, the exchange said. Last week, social trading and investing platform eToro added over 30 companies listed on ADX to its platform after an agreement made last year. This is part of ADX's continuing effort to enhance market accessibility and widen participation in Abu Dhabi's capital market, Mr Alnuaimi said at the time.
