The UAE "alpha data" attempts to raise $ 200 million from a preliminary proposal

Alpha data plans for the UAE -based IT services for an initial public offer in the Abu Dhabi market, according to people familiar with the matter. The insiders, who asked not to reveal their identity because the information was not public, said that the company worked with the ‘financial group Hermes’ and ‘Emirates NBC Capital’ regarding the possible sale of shares, which could be done by the end of this year. According to People, Alpha wants to collect data about $ 200 million in listing. The details of the offer are still like its size and timing, and that can change. Representatives of the “Financial Group Hermes” and “Emirates NBD Capital” kept them from commenting on the matter, while it was not yet possible to communicate with “Alfa data” to get a comment. Established in 1981, Alpha data, and its techniques include artificial intelligence, mobility, security, the internet of things, big data and cloud computing, according to the website. The splash of subscriptions in the UAE The UAE has been three general subscriptions since the beginning of the year, the largest of which was ‘Alf for Education’, with a value of $ 515 million last month. The shares of the teaching technology business have decreased since the circulation in a rare poor incidence of a preliminary public offer at the Gulf regional level. The region is still full with the inclusion activity, as governments continue to sell interests in the state’s assets to raise money to diversify their economies of oil. Last month, the Saudi government saw a secondary offer of the shares of the giant oil company “Aramco”, which collected $ 11.2 billion this year-the largest shares in the world.