UAE technology services firm Alpha Data announced its intention to list on the Abu Dhabi Securities Exchange (ADX), offering 400 million shares, which represents 40% of its capital. This listing will consist entirely of existing shares owned by investors Bin Hamoodah and Ibbini Investment, as stated by the company.

In its financial report for the year 2024, Alpha Data reported a net profit of 127 million dirhams and a revenue of 2.32 billion dirhams. This move to go public could enhance its visibility and support further growth in the competitive technology sector.

The announcement marks a significant step for Alpha Data, reflecting the growing trend of technology firms seeking to raise capital through public offerings in the region. As more companies explore similar opportunities, the overall landscape of investments in the UAE technology sector continues to evolve.