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26/02/2025 10:49 AST
The UAE tech company Alpha Data has set the IPO at Dh1.5 a share, which is at the higher end of the company's price range.
Most important, the dividend yield will work out to 8.7%, one of the highest on offer from listed UAE companies. The enterprise solutions provider is committed to paying Dh130 million for 2025.
Alpha Data had earlier set Dh1.45-Dh1.5 as the price range. (If it had opted for Dh1.45, the yield would have worked out to 9%.)
At Dh1.5 a share, the company will raise Dh600 million, and implying a market cap of Dh1.5 billion on listing.
"The offering attracted strong interest from investors across the UAE and the GCC as well as international investors, resulting in a double-digit oversubscription level," said a statement.
"I am thrilled with the strong demand we've seen from investors for Alpha Data's IPO," said Fayez Ibbini, founder and CEO of Alpha Data. "This is a testament to the market's confidence in our business model, strategic vision, and our standing as a homegrown UAE family business."
Already there is talk about the next UAE IPO, with the flag carrier Etihad Airways mentioned as a strong possibility in a media report.
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