Alpha Data PJSC, a leading digital transformation provider and system integrator in the UAE, has announced the price range and the start of the subscription period for its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX).

Key Details of the Offering:

• The offer price range is set between AED 1.45 and AED 1.50 per share, valuing the company between AED 1.45 billion (US$ 395 million) and AED 1.50 billion (US$ 408 million).
• A total of 400 million shares, each with a nominal value of AED 0.03, will be available, representing 40% of Alpha Data’s total issued share capital.
• The Group is expected to distribute a AED 130 million dividend for 2025, implying a dividend yield of 8.7% – 9.0% based on the offer price range.
• All shares in the offering are existing shares held by Bin Hamoodah Company LLC and Ibbini Investment Company LLC, who may adjust the offer size before the subscription period ends, subject to regulatory approval.
• The IPO comprises a UAE Retail Offering (5% of the total offer) for retail investors and a Qualified Investor Offering (95%) for professional investors outside the U.S., including the UAE.
• The subscription period runs from 20 February to 25 February 2025 for both retail and professional investors.
• The final offer price will be determined through a book-building process and announced on 26 February 2025.
• Listing on ADX is expected on or around 11 March 2025.
• The Internal Sharia Supervision Committee of Emirates NBD has confirmed the IPO’s compliance with Shariah principles.