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Alpha Data climbs on ADX market debut
Khaleej Times
|March 12, 2025
Shares of Alpha Data, a leading digital transforma- tion 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 ap-proximately Dh1.5 billion ($408 million), underscoring its strong position in the UAE’s technology sector.
This story is from the March 12, 2025 edition of Khaleej Times.
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