The Year’s First IPO in Abu Dhabi
Alpha Data, a well-known technology services company with headquarters in the United Arab Emirates, is getting ready to raise up to $163.2 million through an IPO. This is Abu Dhabi’s first initial public offering (IPO) of 2024, indicating that the IT industry in the area is attracting a lot of interest from investors.
Offering and Valuation of Shares
With an offering price of 1.45 dirhams ($0.39) to 1.50 dirhams ($0.41) per share, the company intends to list 400 million shares. According to this estimate, Alpha Data is worth about $408 million on the market.
Important Shareholders Taking Part
Shares from current shareholders Bin Hamoodah and Ibbini Investment will be included in the IPO, enabling a varied ownership structure after listing.
Timeline for Subscriptions and Trading
The initial public offering (IPO) is open to investors from February 20 to February 25. Trading is anticipated to start on March 11. The timeline shows how quickly subscriptions gave way to public trading.
Estimated 2025 Dividends
Alpha Data has reaffirmed its dedication to shareholder returns by projecting a dividend payout of 130 million dirhams ($35.4 million) for 2025.
2024 Financial Performance
The company recorded 2.32 billion dirhams ($631.65 million) in revenue and a net profit of 127 million dirhams ($34.58 million) for the fiscal year 2024. These numbers demonstrate the company’s sound financial standing as it approaches becoming public.
Saad Farooq brings a blend of engineering prowess and a passion for writing to technewsme.com. As a tech engineer based in the vibrant tech landscape of the UAE, Saad has immersed himself in the latest technological advancements, making him an invaluable asset to our team. His deep understanding of tech intricacies comes from hands-on experience in the field, coupled with a genuine love for all things tech.
In his role at technewsme.com, Saad specializes in demystifying complex tech subjects, making them accessible and engaging for our readers. His articles are a reflection of his life in the UAE, a hub of technological innovation, offering a unique perspective on global tech trends and local developments. Whether it’s exploring new tech gadgets, delving into software innovations, or analyzing tech market trends, Saad’s writing is fueled by his extensive engineering background and his enthusiasm for sharing knowledge. Join him on a journey of discovery and insight into the world of technology, right from the heart of the UAE.
