Latest news with #Dh1.50
Zawya
10-04-2025
- Business
- Zawya
Alpha Data up as stabilisation ends: IFR
The stabilisation period ended for ADX-listed Alpha Data with 6.9m shares used to support the stock, representing 17% of a 40m-share brownshoe. Use of stabilisation reduces the deal to Dh589.7m (US$160.5m) from Dh600m. No shares were bought during the first week of trading following the company's March 11 debut. In the following weeks stabilisation agent BHM Capital was active with 871,550 shares bought between March 18–24, 353,017 bought from March 25–April 2 and, amid more recent market turmoil, a much larger 5.68m were bought between April 3–9. Alpha Data provided a relatively positive data point for UAE private sector IPOs at debut, closing up 6.7% on its Dh1.50 issue price on day one, and while under pressure it didn't close below issue until April 7. After slipping as low as Dh1.47 on Monday the stock appears to be showing signs of recovery and closed up 1.3% at Dh1.54 on Wednesday. EFG Hermes and Emirates NBD were joint global coordinators, and joint bookrunners with Abu Dhabi Commercial Bank. All of 2024's private sector deals remain below issue, with the worst being Lulu Group down 42.7%. Of 2024's issuance in the UAE, only state-backed Parkin has delivered sizeable returns for investors, with shares 127.6% above issue.
Al Etihad
13-03-2025
- Business
- Al Etihad
Alpha Data makes a positive debut at ADX
11 Mar 2025 12:48 REDDY (ABU DHABI)Alpha Data shares started trading on the Abu Dhabi Securities Exchange (ADX) on Tuesday following its initial public offering (IPO) under the ticker ALPHADATA.A bell-ringing ceremony was held on the trading floor of ADX, marking the debut of Alpha Data's Data shares, which were listed at Dh1.50, were trading at Dh1.58, nearly 5.5% up, at 12.10 pm on Tuesday. A total of 400 million shares were made available in the IPO, representing 40% of the company's ownership. The IPO raised a total of Dh600 million (approximately $163 million), implying a market capitalisation at listing of Dh1.5 billion (approximately $408 million). The IPO was significantly oversubscribed highlighting both the interest and confidence in Alpha Data as a and CEO of Alpha Data, Fayez Ibbini, said, 'Today marks a historic milestone for Alpha Data as we take our place as a listed company on ADX. This achievement is a testament to the dedication of our team, the trust of our customers, and the strength of our vision over the last 40 years. As a UAE homegrown company, we are grateful to have benefitted from the business environment that the visionary leaders have established and their forward-looking approach."For the financial year ending December 31, 2025, Alpha Data intends to distribute a dividend of Dh130 million, payable in two equal instalments in October 2025 and April 2026. Thereafter, the group expects to distribute dividends on a semi-annual basis (in April and October of each year), with a minimum payout of 80% of the net profit generated for the relevant financial period.
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.
Khaleej Times
26-02-2025
- Business
- Khaleej Times
Abu Dhabi's 2PointZero aims to launch IPO by year-end, says group CEO
Abu Dhabi-based 2PointZero—which invests in emerging technologies and future-sustaining businesses—aims to go public and list on the Abu Dhabi bourse this year, the group CEO said. While speaking at Investopia 2025 in Abu Dhabi on Wednesday, Mariam AlMheiri, group CEO of 2PointZero, said: 'We hope to be listed on the Abu Dhabi Securities Exchange by the end of this year. So keep your eyes and ears open.' 2PointZero is a global investment platform and a subsidiary of International Holding Company (IHC). Earlier this month, 2PointZero announced the strategic acquisition of Cairo-based Maseera Holding for Financial Investments to launch a new Abu Dhabi-based entity under the Maseera Holding name. 2PointZero plans to invest $1 billion into Maseera over the coming years. Mariam AlMheiri added that they're 'excited' and looking for more partnerships. Many UAE companies—both public and private—are tapping the equity markets to raise funds for expansion and to drive growth. It is expected that Abu Dhabi will lead firms in terms of going public this year. Abu Dhabi-based Alpha Data is the first UAE company to announce an IPO this year and will list on the Abu Dhabi Securities Exchange next month. On Wednesday, Alpha Data set the final price for its IPO at Dh1.50 per share, at the top end of the previously announced offer price range, raising a total of Dh600 million. It implies a market capitalisation at the listing of Dh1.5 billion. On Tuesday, Reuters reported that UAE national carrier Etihad Airways will also go public this week and list on the Abu Dhabi bourse. As reported by Khaleej Times earlier, the UAE IPO pipeline looks strong this year as well after a strong performance in 2024. Many UAE ministers, bankers, foreign ministers and other dignitaries attended the opening day of Investopia 2025.
Khaleej Times
20-02-2025
- Business
- Khaleej Times
UAE: Alpha Data IPO opens for subscription, announces offer price range
Alpha Data on Thursday announced an offer price range of Dh1.45-Dh1.5 per share as its initial public offering (IPO) opened for subscription. This implies its market capitalisation of Dh1.45- Dh1.50 billion at the time of listing. Abu Dhabi-based firm would sell 400 million shares or 40 per cent stake in the company. This will be the first IPO in the UAE this year. The subscription period will run from February 20 to February 25, for both UAE retail and professional investors. The retail offering will represent 5 per cent of the total offer size, and the qualified investor offering will represent 95 per cent of the total offer size. The minimum application size for retail subscribers is Dh5,000. Each successful subscriber will be guaranteed a minimum allocation of 2,000 Shares, subject to the total number of shares allocated pursuant to the minimum guaranteed allocation in the First Tranche not exceeding the total number of shares available in the First Tranche, in which case the minimum allocation could be lower than 2,000 shares. While the minimum application size for second-tranche subscribers is Dh5 million. The Emirates Investment Authority shall be entitled to subscribe for up to 5 per cent of the offer shares. The final offer price will be determined through a book-building process and is expected to be announced on February 26. The listing on the Abu Dhabi Securities Exchange is expected to take place on or about March 11, 2025. 'I have been hugely encouraged by the strong interest Alpha Data has received since we announced our intention to float on the Abu Dhabi Securities Exchange last week. Our IPO marks a rare opportunity to invest in a homegrown UAE family business with strong fundamentals underpinned by macro-trends in the Information and Communications Technology sector, including the rapid growth of Agentic AI,' said Fayez Ibbini, founder and CEO of Alpha Data. 'With our recently established presence in Saudi Arabia and Qatar, Alpha Data is well positioned to drive further growth across key business verticals, supported by our main operations in the UAE,' he said. The group is expected to distribute a dividend of Dh130 million in 2025. EFG-Hermes and Emirates NBD Capital have been appointed as joint global coordinators and joint bookrunners. Abu Dhabi Commercial Bank has been appointed as a joint bookrunner. Emirates NBD Bank has been appointed as the lead receiving bank. Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Al Maryah Community Bank, Emirates Islamic Bank, and Wio Bank have also been appointed as receiving banks.
