The Abu Dhabi Securities Exchange, which is the second-largest exchange in the Middle East, has officially welcomed the listing of Alpha Data, a digital transformation provider and systems integrator in the UAE. This marks a significant milestone as it is the UAE’s first initial public offering (IPO) of 2025 and the Exchange’s second offering this year, highlighting ADX’s commitment to expanding market opportunities and diversifying investments.

Alpha Data’s IPO was met with strong demand from both regional and international investors, leading to the offering being oversubscribed by double digits. The company successfully raised AED600 million (approximately US$163 million) through the issuance of 400 million shares, which represents 40% of its total issued share capital, priced at the top end of its offer at AED1.50 per share.

Following its listing, Alpha Data boasts a market capitalisation of around AED1.5 billion (US$408 million), solidifying its strong position in the UAE’s technology sector. The listing is a testament to ADX’s ongoing efforts to support the technology industry in the UAE by attracting high-growth companies in innovative fields such as artificial intelligence (AI), the Internet of Things (IoT), Big Data, and Cloud Computing.

Abdulla Salem Alnuaimi, Group Chief Executive Officer of ADX, expressed his enthusiasm about the listing, stating that welcoming Alpha Data as the UAE’s first IPO of 2025 reflects ADX’s commitment to providing a dynamic and diversified marketplace for investors, particularly in the high-growth digital infrastructure and technology sector. He noted that the listing supports the mission of enabling pioneering businesses to drive innovation and contribute to Abu Dhabi’s economic transformation.

Fayez Ibbini, Founder and CEO of Alpha Data, commented on the occasion, expressing pride in joining the ADX as a homegrown UAE family business. He emphasized that the listing represents not only a milestone in their 40-year journey of growth and innovation but also a promise to shareholders and the market to continue delivering growth and champion technological advancements.

In related developments, ADX has recently launched the ADX Group, which has established advanced trading, clearing, and settlement capabilities through its new subsidiaries, AD Clear and AD CSD. These initiatives aim to create a more dynamic and efficient marketplace for both issuers and investors, further strengthening Abu Dhabi’s status as a leading global financial center.