Alpha Data’s IPO to Offer 400 Million Shares

Alpha Data and its subsidiaries, one of the leading digital transformation providers & system integrators in the UAE, on Thursday announced its intention to proceed with an initial public offering (IPO) and to list its ordinary shares for trading on the Abu Dhabi Securities Exchange (ADX).

As per the announcement, the company will offer 400 million shares, equivalent to 40% of the company’s total issued share capital. Alpha Data has reported a net profit of $34.58 million and a revenue of $630 million in 2024.

All shares to be offered are existing shares held by Bin Hamoodah Company LLC and Ibbini Investment Company LLC as the selling shareholders, who reserve the right to amend the size of the IPO at any time prior to the end of the subscription period at their sole discretion, subject to applicable laws and the approval of the UAE’s regulator Securities & Commodities Authority (SCA).

The offering will be made available to the UAE retail Investors and other investors as part of the UAE Retail Offering or First Tranche, and to professional investors outside the US, including the UAE, as part of the Qualified Investor Offering or Second Tranche.

The company said that the subscription period will open on 20 February 2025, and end on Tuesday, 25 February 2025, for both – the UAE retail investors and professional investors. The Offer price will be determined through a book building process and admission of shares for trading on the ADX is expected to take place next month.

Alpha Data’s prospective Chairman Mohamed Omran Al Shamsi said that the management team has many years of collective experience in providing bespoke solutions to clients and driving digital transformation.

He said that during this period, the company has been a clear market leader in developing and implementing innovative solutions, driving digital transformation, and achieving operational excellence in the IT sector. Since its founding in 1981 from a small beginning in Abu Dhabi, the company has grown to over 1,500 members of staff across the UAE, Saudi Arabia and Qatar.

“Our IPO is an important and exciting moment for Alpha Data – enabling us to build on our success as a leading digital transformation provider. As a business, we will continue to enhance and expand our offering to ensure we remain at the forefront of our customer’s digital transformation journey, supporting the strategies of the countries we operate in to increase the input of technology to national GDP,” Shamsi added.

Significant Growth Achieved

Alpha Data’s founder and CEO Fayez Ibbini said that since founding of the company in 1981, the Group has consistently evolved and achieved significant growth.

Alpha Data was working with more than 2,200 companies across both the public and private sector, as well as government institutions. Its expanding footprint, now include Saudi Arabia and Qatar, demonstrating the growth possibilities for the business.

“Public importance of technology in everyday life, not just in the UAE, but globally, Alpha Data is in a strong position to leverage its experience to take further market share, providing investors the chance to invest in one of the few businesses in the UAE that is fully integrated into the digital economy,” Ibbini added.