UAE’s Alpha Data plans to raise up to $163 million in IPO.

UAE technology services firm Alpha Data said on Thursday it plans to raise up to $163 million in its initial public offering.

The company plans to list 400 million shares on the Abu Dhabi Securities Exchange (ADX) between a price range of 1.45 dirhams and 1.50 dirhams per share. The price range implies a market capitalization of up to $408 million, the firm added.

Source: FINANCEYAHOO