{"id":93559,"date":"2024-07-05T00:00:00","date_gmt":"2024-07-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/abu-dhabis-alpha-data-mulls-usd-200-mn-ipo\/"},"modified":"2024-07-05T00:00:00","modified_gmt":"2024-07-05T00:00:00","slug":"abu-dhabis-alpha-data-mulls-usd-200-mn-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/07\/05\/abu-dhabis-alpha-data-mulls-usd-200-mn-ipo\/","title":{"rendered":"Abu Dhabi\u2019s Alpha Data mulls USD 200 mn IPO"},"content":{"rendered":"

Alpha Data mulls IPO:<\/strong> IT services firm Alpha Data<\/a> is reportedly planning to raise around USD 200 mn through an upcoming IPO on the ADX as soon as this year, Bloomberg<\/a> reports, citing sources familiar with the matter. The Abu Dhabi-based company tapped EFG Hermes and Emirates NBD Capital to advise on the potential share sale. Specifics such as the size of the sale are still preliminary and subject to change, the unnamed sources indicated.<\/p>\n

The ADX could see a number of blockbuster IPOs this year: <\/strong>The exchange could see the Gulf\u2019s first airline IPO, courtesy of <\/span>Etihad Airways<\/a>, which has already tapped advisors for the sale, alongside supermarket chain <\/span>LuLu group<\/a>. Edtech firm Alef Education is so far the ADX\u2019s only IPO of the year, <\/span>raising AED 1.89 bn<\/a> \u2014 making it the biggest this year \u2014 but seeing a lackluster debut with shares falling 18% on its first day of trading.<\/span><\/p>\n

Analysts are optimistic about the IPO momentum<\/strong>, with EFG Hermes\u2019 head of equity capital markets, Ali Khalpey, telling Bloomberg<\/a> he expects more to come this year, particularly from the private sector. Private-sector IPOs will likely range between USD 300 mn to USD 500 mn in the GCC this year, though government listings will be larger, he added. Dominant sectors include e-commerce and IT, Khalpey said. <\/p>\n

Khalpey says it\u2019s only a matter of time for Alef Education\u2019s stock to rise back up.<\/strong> \u201cWe\u2019ve definitely pushed the valuation boundaries when it came to both these IPOs,\u201d he said. \u201cIt takes time for people to appreciate the business models that these companies have.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The IPO could take place as soon as this year<\/p>\n","protected":false},"author":1,"featured_media":93560,"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":[74,29,7,1392,149],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-93559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-adx","tag-capital-markets","tag-enterpriseam-uae","tag-ipo","tag-ipo-watch","wpautop","entry"],"acf":{"mongo_id":"b5a6a284-e95b-4f0b-a577-0cfaccd95a8d","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/851.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Abu Dhabi\u2019s Alpha Data mulls USD 200 mn IPO","related_issue":[93554],"teaser":"The IPO could take place as soon as this year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.872b486c-a49d-475a-9ed0-4b144f39aef7.mp3"},"yoast_head":"\nAbu Dhabi\u2019s Alpha Data mulls USD 200 mn IPO - 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