Abu Dhabi - Mubasher: Alpha Data shares will begin trading on the Abu Dhabi Securities Exchange (ADX) today, Tuesday, marking the first listing on the exchange this year .

Alpha Data shares will be listed on the First Market, Category 2, within the Technology sector, under the symbol ALPHADATA and the international identification number AEE01575A252.

The company's share price floats for three consecutive trading sessions at the start of listing, such that the price is not subject to the permissible daily rise and fall limits - 15 percent higher and 10 percent lower - during these three sessions .

The reference price of the company's share upon commencement of trading on the market will be the final offering price for the public subscription, for the purpose of calculating the percentage change in the trading price from the reference price in the company's first trading session .

The company's market value upon listing will reach approximately AED 1.5 billion (equivalent to US$408 million), based on its final offering price, which was set at AED 1.50 per share .

The subscription began on February 20, with the offering of 40 percent of the company's capital, equivalent to 400 million shares of its common stock.

It was distributed into two tranches, one for individuals (the first tranche), to which 10 percent of the offering shares were allocated, and the second for professional investors (the second tranche), to which 90 percent were allocated.

The UAE is expected to continue to lead the way in company listings , outperforming the Europe, Middle East, and Africa region for the third consecutive year. The UAE also ranks among the top ten places to sell shares globally, according to a recent Bloomberg report .

The report stated that potential listings in the UAE over the next year include four companies, including Etihad Airways, making it the first Gulf airline to offer its shares on the Gulf financial markets .

Other potential deals include classifieds site Dubizzle, Dubai Holding, through the offering of two real estate portfolios in real estate investment trusts, and an IT services company .