Global law firm Ashurst has advised Alpha Data PJSC on its ADX initial public offering (IPO), acting as the issuer's international and local UAE counsel on the IPO and listing on the Abu Dhabi Securities Exchange of Alpha Data, one of the leading digital transformation providers & system integrators in the UAE. The transaction involved the conversion of an onshore limited liability company into a PJSC and is the first fully family-owned business to be listed on the ADX in recent times.
With the final IPO price set at the top end of the offer price range, the IPO raised a total of AED 600 million (c. US$ 163 million) for the sale of 40% of the Company’s total issued share capital, implying a market capitalisation for Alpha Data of AED 1.5bn (c. US$ 408 million) in Abu Dhabi's first IPO of 2025. EFG-Hermes and Emirates NBD Capital PSC, together with Abu Dhabi Commercial Bank PJSC acted as lead managers.
Established in 1981, Alpha Data has evolved from small beginnings to over 1,500 professionals building ICT solutions for thousands of organisations. Alpha Data's diverse portfolio of offerings includes new technologies that encompass Artificial Intelligence, Mobility, Security, the Internet of Things, Big Data, and the Cloud – all designed to help customers in their transformation journey to the rapidly evolving digital economy.
The Ashurst Middle East ECM team was led by corporate partner Simon Rahimzada with support from local partner Leonid Stoliarski and senior associates Maroun El Hachem and Andrew Robinson, associate Johnny Farhart, junior associate Hajer El Moumni and paralegal Nisreen Rabah.
