{"id":101150,"date":"2025-02-27T00:00:00","date_gmt":"2025-02-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/alpha-data-prices-ipo-top-of-the-range\/"},"modified":"2025-02-27T00:00:00","modified_gmt":"2025-02-27T00:00:00","slug":"alpha-data-prices-ipo-top-of-the-range","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/02\/27\/alpha-data-prices-ipo-top-of-the-range\/","title":{"rendered":"Alpha Data prices IPO top of the range"},"content":{"rendered":"

The first company to hit the ADX this year, Alpha Data, priced its IPO at the<\/strong> top of <\/strong>its indicative price range<\/a><\/strong> at 1.50 per share, according to a statement (pdf)<\/a>. This falls in line with market expectations<\/a> as investor appetite for tech players operating in AI continues to gain momentum. Shares are set to begin trading on the bourse on 11 March.<\/p>\n

The final price will see the Abu Dhabi-based IT services provider raise AED 600 mn<\/strong> in IPO proceeds, inflating its market cap to AED 1.5 bn at listing. <\/p>\n

REMEMBER- <\/strong>Alpha Data\u2019s only two shareholders are selling down their position to a combined 60% stake in the company and pocketing net proceeds from the sale of a 40% stake<\/a>. <\/p>\n

ADVISORS- <\/strong>EFG Hermes, Emirates NBD and Abu Dhabi Commercial Bank are acting as joint lead managers for the transaction, with Ashurst and Latham & Watkins providing legal counsel. Deloitte & Touche are serving as auditors.<\/p>\n

REMEMBER- <\/strong>ADQ-backed carrier Etihad Airways is also likely to pull the trigger on its highly anticipated USD 1 bn IPO<\/a> on the ADX this week, marking the first GCC airline to hit the market in nearly two decades. <\/p>\n","protected":false},"excerpt":{"rendered":"

This falls in line with market expectations, reflecting heightened appetite for tech IPOs<\/p>\n","protected":false},"author":1,"featured_media":101151,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1560],"tags":[103,608,7,1392,149],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-101150","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-alpha-dhabi","tag-bhm-capital","tag-enterpriseam-uae","tag-ipo","tag-ipo-watch","wpautop","entry"],"acf":{"mongo_id":"cdbdc8fe-276f-4c96-b9b5-eb9314b9bbc2","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/2\/2633.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Alpha Data prices IPO top of the range","related_issue":[101140],"teaser":"This falls in line with market expectations, reflecting heightened appetite for tech IPOs","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.284cb483-6cce-4e66-b088-dcd0f329090d.mp3"},"yoast_head":"\nAlpha Data prices IPO top of the range - 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