Alpha Data, an Abu Dhabi-based digital transformation services provider, plans to list 40 per cent of its issued share capital on the capital's bourse, amid economic momentum and a listing boom in the UAE.
Bin Hamoodah Company and Ibbini Investment, the selling shareholders, aim to offer 400 million shares, with a nominal value of Dh0.03 ($0.008) per share, through an initial public offering on the Abu Dhabi Securities Exchange, the companies said on Thursday.
Alpha Data, which was established in 1981, has a total issued share capital of Dh30 million.
The subscription period will run from February 20 to 25, and the final offer price on the deal will be determined through book-building. The selling shareholders have reserved the right to amend the size of the offering and expect Alpha Data to begin trading on the ADX in March.
Retail and other UAE investors will be able to subscribe to the shares on offer in the first tranche, while the second tranche is reserved for professional investors, Alpha Data said without giving the percentages of shares reserved for each tranche. The Emirates Investment Authority will be able to subscribe to up to 5 per cent of the offering, it added.
Alpha Data employs more than 1,500 staff, providing ICT solutions for thousands of organisations, according to its website. Its portfolio includes services for artificial intelligence, mobility, security, the Internet of Things, big data and the cloud.
Its public float aims to support digital strategies in the countries it operates and boost the contribution of technology to national economies, Mohamed Al Shamsi, Alpha Data's prospective chairman, said.
The IPO enables the company to "build on our success as a leading digital transformation provider", he said "As a business, we will continue to enhance and expand our offering."
Alpha Data is the latest company seeking to sell shares to the public amid a listing boom driven by robust investor demand for new issues.
The continued economic momentum in the UAE, the Arab world's second-largest economy, has also boosted listings across sectors on both Abu Dhabi bourse and the Dubai Financial Market.
Alpha Data's planned listing follows a string of IPOs over the past year. Talabat Holding, the Middle Eastern unit of Germany's food delivery platform Delivery Hero, raised Dh7.5 billion in November, in what was the GCC's biggest IPO in 2024. Also that month, UAE retail major Lulu Group raised Dh6.32 billion.
Other UAE IPOs in 2024 included NMDC Energy, a unit of Abu Dhabi contractor National Marine Dredging Company, raising $877 million, and Alef Education, which raised $515 million.
Analysts say the pipeline of IPO deals in the UAE remains strong amid robust expansion of the non-oil sector in the Emirate's economy. The UAE's government's push to unlock value in state entities and part-sell stakes is also supporting deal flows.
Dubai Investments, a diversified company in which the sovereign wealth fund Investment Corporation of Dubai holds a stake, last month said it plans to take four of its subsidiaries public.
Alpha Data is seeking to tap into the technology boom in the UAE, where the government has continued to champion digital transformation and the adoption of emerging innovations as it transitions to the economy of the future.
"Given the increasing importance of technology in every day life, not just in the UAE but globally, Alpha Data is in a strong position to leverage its experience to take further market share," said Fayez Ibbini, founder and chief executive of Alpha Data.
The listing will be an opportunity to provide investors "the chance to invest in one of the few businesses in the UAE that is fully integrated into the digital economy", he added.
EFG-Hermes and Emirates NBD Capital are joint global co-ordinators and joint bookrunners for the IPO, while Abu Dhabi Commercial Bank is a joint bookrunner. Emirates NBD is the lead receiving bank, while ADCB, Abu Dhabi Islamic Bank, Emirates Islamic Bank and Wio Bank are the receiving banks.
Company%20Profile
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
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Dir: Abby Kohn/Mark Silverstein
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- Wear a protective helmet
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- Solo riders only, no passengers allowed
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The finalists
Player of the Century, 2001-2020: Cristiano Ronaldo (Juventus), Lionel Messi (Barcelona), Mohamed Salah (Liverpool), Ronaldinho
Coach of the Century, 2001-2020: Pep Guardiola (Manchester City), Jose Mourinho (Tottenham Hotspur), Zinedine Zidane (Real Madrid), Sir Alex Ferguson
Club of the Century, 2001-2020: Al Ahly (Egypt), Bayern Munich (Germany), Barcelona (Spain), Real Madrid (Spain)
Player of the Year: Cristiano Ronaldo, Lionel Messi, Robert Lewandowski (Bayern Munich)
Club of the Year: Bayern Munich, Liverpool, Real Madrid
Coach of the Year: Gian Piero Gasperini (Atalanta), Hans-Dieter Flick (Bayern Munich), Jurgen Klopp (Liverpool)
Agent of the Century, 2001-2020: Giovanni Branchini, Jorge Mendes, Mino Raiola
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
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hall of shame
SUNDERLAND 2002-03
No one has ended a Premier League season quite like Sunderland. They lost each of their final 15 games, taking no points after January. They ended up with 19 in total, sacking managers Peter Reid and Howard Wilkinson and losing 3-1 to Charlton when they scored three own goals in eight minutes.
SUNDERLAND 2005-06
Until Derby came along, Sunderland’s total of 15 points was the Premier League’s record low. They made it until May and their final home game before winning at the Stadium of Light while they lost a joint record 29 of their 38 league games.
HUDDERSFIELD 2018-19
Joined Derby as the only team to be relegated in March. No striker scored until January, while only two players got more assists than goalkeeper Jonas Lossl. The mid-season appointment Jan Siewert was to end his time as Huddersfield manager with a 5.3 per cent win rate.
ASTON VILLA 2015-16
Perhaps the most inexplicably bad season, considering they signed Idrissa Gueye and Adama Traore and still only got 17 points. Villa won their first league game, but none of the next 19. They ended an abominable campaign by taking one point from the last 39 available.
FULHAM 2018-19
Terrible in different ways. Fulham’s total of 26 points is not among the lowest ever but they contrived to get relegated after spending over £100 million (Dh457m) in the transfer market. Much of it went on defenders but they only kept two clean sheets in their first 33 games.
LA LIGA: Sporting Gijon, 13 points in 1997-98.
BUNDESLIGA: Tasmania Berlin, 10 points in 1965-66
ENGLAND TEAM
Alastair Cook, Mark Stoneman, James Vince, Joe Root (captain), Dawid Malan, Jonny Bairstow, Moeen Ali, Chris Woakes, Craig Overton, Stuart Broad, James Anderson
How to donate
Send “thenational” to the following numbers or call the hotline on: 0502955999
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Volunteers offer workers a lifeline
Community volunteers have swung into action delivering food packages and toiletries to the men.
When provisions are distributed, the men line up in long queues for packets of rice, flour, sugar, salt, pulses, milk, biscuits, shaving kits, soap and telecom cards.
Volunteers from St Mary’s Catholic Church said some workers came to the church to pray for their families and ask for assistance.
Boxes packed with essential food items were distributed to workers in the Dubai Investments Park and Ras Al Khaimah camps last week. Workers at the Sonapur camp asked for Dh1,600 towards their gas bill.
“Especially in this year of tolerance we consider ourselves privileged to be able to lend a helping hand to our needy brothers in the Actco camp," Father Lennie Connully, parish priest of St Mary’s.
Workers spoke of their helplessness, seeing children’s marriages cancelled because of lack of money going home. Others told of their misery of being unable to return home when a parent died.
“More than daily food, they are worried about not sending money home for their family,” said Kusum Dutta, a volunteer who works with the Indian consulate.
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
