Today, shares of Alpha Data, a leading digital technology and systems integration company in the UAE, were listed on the Abu Dhabi Securities Exchange. This is the first public offering in the UAE and the second offering on the Abu Dhabi market this year. The total value of this deal amounts to 163 million USD.
Kreem Malika, the chair of the EFG Hermes promotion and underwriting department, noted that the company holds a leading position in attracting investors at local, regional, and international levels, which confirms its reputation among capital market players in the region. He also stated that the listing has generated significant interest from investors at all levels, exceeding the initial size of the offering by more than ten times.
"This event is important for us and marks a significant step in our 40-year journey of developing and supporting innovations," added Kreem Malika.
EFG Hermes announced the successful completion of consulting services for the initial public offering of Alpha Data shares on the Abu Dhabi Securities Exchange totaling 163 million USD. This strategic capital presentation supports the development of prospective companies and contributes to the rapid development of regional capital markets.
Speaking about the successful offering of the shares, the CEO of Alpha Data, Faiz Al Ayyabi, pointed out the excitement of the company joining the Abu Dhabi Securities Exchange and its transition from a local family business to a public entity after successfully executing the initial offering and its large demand.
Alpha Data distributed 40% of its total capital, issuing and selling 400 million ordinary shares at a price of 1.5 dirhams per share. The market value of the company stands at 1.5 billion dirhams (408 million USD) after the anticipated price distribution.
"Recognizing our role in supporting sustainable growth and the development of the capital market in the region, we will continue to support private companies in their efforts to grow through the Abu Dhabi Securities Exchange platform," said the main executive director of the Abu Dhabi Securities Exchange group, Abdallah Salem Al Naimi.
Thus, the successful initial offering of Alpha Data shares on the Abu Dhabi Securities Exchange reflects the growing interest of investors in technology companies in the region and demonstrates the potential of the Abu Dhabi market as a strategic center for innovative companies with unique expansion plans.
