ABU DHABI, 20th February, 2025 (WAM) -- Alpha Data PJSC and its subsidiaries, one of the leading digital transformation providers & system integrators in the UAE, today announced the price range and start of the subscription period for its initial public offering on the Abu Dhabi Securities Exchange (ADX).

The offer price range has been set between AED1.45 and AED1.50 per share, implying a market capitalisation at the time of listing between AED1.45 billion (US$ 395 million) and AED1.50 billion (US$ 408 million), the company said in a statement today.

A total of 400,000,000 shares each with a nominal value of AED0.03 will be made available in the offering, representing 40% of the Group's total issued share capital. The Group is expected to distribute a dividend of AED130 million with respect to 2025, implying a dividend yield of 9.0% - 8.7% assuming the above Offer Price Range.

All shares in the offering to be sold are existing shares held by Bin Hamoodah Company LLC and Ibbini Investment Company LLC, both of which reserve the right to amend the size of the Offering at any time prior to the end of the subscription period at their sole discretion, subject to applicable laws and the approval of the SCA.

The Offering will comprise a UAE Retail Offering or First Tranche for UAE Retail Investors, and a Qualified Investor Offering or Second Tranche for Professional Investors outside the United States, including the UAE.

The UAE Retail Offering will represent 5% of the total offer size, and the Qualified Investor Offering will represent 95% of the total offer size.

The subscription period will open on Thursday, 20 February 2025, and end on Tuesday, 25 February 2025, for both UAE Retail Investors and Professional Investors. The final offer price will be determined through a book building process and is expected to be announced on Wednesday 26 February 2025.

Admission of Shares for trading on the ADX is expected to take place on or about 11 March 2025.

The Internal Sharia Supervision Committee of Emirates NBD has issued a pronouncement confirming that, in its view, the Offering is compliant with Shariah principles.

Fayez Ibbini, Founder and CEO of Alpha Data, commented: "I have been hugely encouraged by the strong interest Alpha Data has received since we announced our intention to float on the Abu Dhabi Securities Exchange last week. Our IPO marks a rare opportunity to invest in a homegrown UAE family business with strong fundamentals underpinned by macro-trends in the Information and Communications Technology sector, including the rapid growth of Agentic AI. With our recently established presence in Saudi Arabia and Qatar, Alpha Data is well positioned to drive further growth across key business verticals, supported by our main operations in the UAE. This was demonstrated by the robust performance across the business in 2024; momentum we have seen continue into 2025. We look forward to announcing the final offer price next week and, in due course, welcoming new shareholders to be a part of our growth story."