{"id":101564,"date":"2025-03-12T00:00:00","date_gmt":"2025-03-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/alpha-datas-share-price-rallied-on-its-first-day-of-trading\/"},"modified":"2025-03-12T00:00:00","modified_gmt":"2025-03-12T00:00:00","slug":"alpha-datas-share-price-rallied-on-its-first-day-of-trading","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/03\/12\/alpha-datas-share-price-rallied-on-its-first-day-of-trading\/","title":{"rendered":"Alpha Data\u2019s share price rallied on its first day of trading"},"content":{"rendered":"

First IPO of the year does well on debut:<\/strong> Alpha Data\u2019s share price rose 6.67% on its ADX debut yesterday, closing at AED 1.60 apiece, <\/strong>up from the final offer price of AED 1.50<\/a>, according to market data<\/a>. The IT services firm floated a 40% stake in what was both the UAE and Abu Dhabi\u2019s first IPO of the year, cashing-in on heightened investor appetite for tech players operating in AI.<\/p>\n

REFRESHER- <\/strong>The IPO, which raised AED 600 mn, was a secondary offering, with the shareholders selling down their positions to a combined 60% stake in the company. <\/p>\n

The positive first-day performance comes following several lackluster<\/strong> debuts last year<\/strong>, despite IPOs being consistently oversubscribed, with pricing at the high end of the range due to high demand. On the ADX, ADNH Catering and Alef Education \u2014 which both saw a muted start<\/a> on the ADX \u2014 are both down from their debut price, with ADNH Catering\u2019s shares down 6.2% as of market close, and Alef Education\u2019s shares down 21.4%. <\/p>\n

AI listings on the rise: <\/strong>Alpha Data\u2019s IPO may have spurred Adnoc and Presight AI Holding to revive plans<\/a> for a listing of their artificial intelligence JV \u2014 AIQ<\/a>. The two firms are said to be in early discussions with banks about a potential IPO on the ADX as soon as this year, though details on the size and timeline remain under wraps.<\/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

Also in the 2025 IPO pipeline:<\/strong> The revival of Abu Dhabi AI firm AIQ\u2019s IPO plans<\/a> adds to a hefty pipeline, along with long-awaited listings from Etihad Airways<\/a>, IHC\u2019s 2PointZero<\/a>, property developers Alec Construction<\/a> and Arabian Construction<\/a>, with Dubizzle Group<\/a>, and hospitality group Five Holdings<\/a> having already tapped banks for the move. Meanwhile, Abu Dhabi Investment Group (ADIG) is eyeing listings<\/a> for its financial unit and energy subsidiary and Amanat Holdings is looking to float its education<\/a> and healthcare<\/a> units. Shisha producer Advanced Inhalation Rituals is also rumored to potentially IPO.<\/p>\n","protected":false},"excerpt":{"rendered":"

This was Abu Dhabi\u2019s first IPO of the year<\/p>\n","protected":false},"author":1,"featured_media":101565,"comment_status":"","ping_status":"open","sticky":false,"template":"","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":[74,2266,1392,149],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-101564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-adx","tag-alpha-data","tag-ipo","tag-ipo-watch","wpautop","entry"],"acf":{"mongo_id":"71cf22ef-c051-4258-a690-ed59fa678739","order":"4","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\u2019s share price rallied on its first day of trading","related_issue":[101557],"teaser":"This was Abu Dhabi\u2019s first IPO of the year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.ba2f638d-5ed6-4b0e-af74-c6d4d5795660.mp3"},"yoast_head":"\nAlpha Data\u2019s share price rallied on its first day of trading - 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