Alpha Data, a prominent digital transformation provider and system integrator based in the United Arab Emirates (UAE), has announced its intention to proceed with an Initial Public Offering (IPO) in 2025, making it the first company to go public in the UAE this year.

The company will offer 400 million shares, each with a nominal value of Dh0.03, which are existing shares held by Bin Hamoodah Company and Ibbini Investment Company.

These shareholders maintain the option to amend the size of the offering, pending approval from the Securities and Commodities Authority.

The subscription period for retail and professional investors within the UAE is scheduled to commence on February 20, 2025, and conclude on February 25, 2025. The final offer price will be established through a standard book-building process.

Should the IPO proceed as planned, trading of the shares on the Abu Dhabi Securities Exchange (ADX) is expected to commence in March 2025.

Fayez Ibbini, the founder and CEO of Alpha Data, announced that the IPO will represent a 40 percent equity stake in the company.

Mohamed Omran Al Shamsi, who is positioned to become the prospective Chairman, remarked that the IPO signals an important phase for Alpha Data, allowing the firm to further its support in digital transformation initiatives across the UAE and its neighboring regions.

Established in 1981 and headquartered in Abu Dhabi, Alpha Data has expanded its operations to include a workforce exceeding 1,500 employees across the UAE, Saudi Arabia, and Qatar.

The company currently collaborates with more than 2,200 enterprises, spanning both public and private sectors as well as various governmental bodies.

Alpha Data’s total issued share capital amounts to Dh30 million, divided into one billion shares, all of which have been completely paid.

For the fiscal year concluding on December 31, 2025, the company anticipates distributing Dh130 million as dividends, to be paid in two equal parts in October 2025 and April 2026. Subsequently, it plans to issue dividends biannually, with a commitment to distribute no less than 80 percent of its net profits for the relevant periods.

Notably, the Emirates Investment Authority is entitled to subscribe for up to five percent of the offering.

The investment banking firms EFG-Hermes and Emirates NBD Capital have been appointed as joint global coordinators and bookrunners, while Abu Dhabi Commercial Bank will act as a joint bookrunner.

Emirates NBD Bank is designated as the lead receiving bank, joined by Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Emirates Islamic Bank, and Wio Bank as receiving banks.

Regarding its financial performance, Alpha Data reported an increase in revenues, rising from Dh2 billion in 2023 to Dh2.32 billion in 2024. The company posted a net profit of Dh127 million for the year, compared to Dh133 million in the preceding year.

In the broader context, the Abu Dhabi Securities Exchange experienced two IPOs in the fourth quarter of 2024, generating combined proceeds of approximately $2 billion.

Notable IPOs included Lulu Retail Holdings, which raised $1.7 billion, and ADNH Catering, with proceeds of $235 million.

The exchange also saw a direct listing by Mair Group, while one new listing occurred in the Dubai Financial Market, with Talabat Holding plc raising $2 billion in the same period.