13-03-2025
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.
