???? New IPO Alert: Alpha Data!

Hala,

Dubai’s RTA is unleashing a $217.43M overhaul on Al Qudra Street—featuring several interchanges, 2,700m of bridges, and an 11.6km expansion that slashes travel time from 9.4 to 2.8 minutes (1) This development is swooping in to save Dubai’s traffic circus—chaos, begone! ??????

amana’s Crypto Take

• Solana’s pre-unlock jitters? SOL is feeling the heat ahead of a massive token unlock, slipping 5.5% in the last 24 hours to $160. With 11.2 million SOL ($1.78B) set to hit the market on March 1—thanks to FTX’s bankruptcy saga—traders are bracing for impact.
• The collapse of Sam Bankman-Fried’s empire keeps sending shockwaves, this time in the form of a major supply dump. Historically, big unlocks crank up selling pressure, and on-chain data isn’t helping: negative funding rates suggest traders are already betting on more downside.
• Can demand hold the line? If buyers don’t step up, SOL could be in for a rough ride. Market sentiment and liquidity will be key in the coming days—because in crypto, what goes down?doesn’t always?come back up.

Stock Market Update

??↘? Wall Street’s trading floor turned into a slip 'n slide on Friday as fresh U.S. data hinted at a slowing economy and sticky inflation, sending investors to dive for safer assets—the Dow slipped 1.69% to 43,428.02, the S&P 500 slid 1.71% to 6,013.13, and the Nasdaq 100 fell 2.06% to 21,614.08. Even fan favorites like Nvidia and Palantir got caught in the freefall.(2) What a way to end the week. ???

???? UAE stocks joined the red party, with Dubai shedding 0.4% to 5,359 on profit-taking and Abu Dhabi easing 0.01% to 9,618, weighed down by Alpha Dhabi and Lulu Retail.(3) ???

???? Alpha Data's Digital Crescendo: A New IPO Star on the Horizon!

Alpha Data, the UAE’s technology services company, is tuning up for a blockbuster debut with its IPO—aiming to raise up to $163 million.(4) This first-of-its-kind offering for the year is set to electrify the Abu Dhabi Securities Exchange on or about March 11, heralding a fresh beat in the digital arena. ????

???? High Tech Highlights:

• Share Sale: 400 million shares ready to rock the Abu Dhabi trading stage.
• Price Beat: AED 1.45 ($0.39)–1.50 ($0.41)?per share, setting a market cap between AED 1.45 and 1.50 billion.
• Top-End Market Cap: At the top end, this implies a market capitalization of $408 million.
• Dividend Delight: A projected AED 130 million dividend in 2025, striking a yield around 9%.
• Bookbuilding Beat: Final offer price on February 26 with trading slated for about March 11.
• Financial Forte: A 2024 performance boasting AED 127 million in net profit and AED 2.32 billion in revenue. ????

???? Encore for Alpha Data's Ascent

As the digital cosmos watches, Alpha Data is primed to shine like a freshly minted star in the tech firmament. With its robust fundamentals and innovative spark, this IPO is composing a new symphony in the UAE’s dynamic market—ready to leave investors humming long after the final note. ???

Closer to Home?

• ?? UAE’s Sharjah Islamic Bank gave a hearty nod to a 15% cash dividend (AED458.7M) to celebrate record profits for 2024—net profit before tax up 36.5% to AED1.15B.(5) That's a win you can bank on. ??
• ?? First Abu Dhabi Bank projects GCC equity markets to deliver 12-13% returns in 2025, fueled by a revival in key sectors like petrochemicals and smooth financial-geopolitical sailing.(6) #BuckleIn ??
• ?? In a bold digital leap, Qatar's government just inked a five-year deal with AI data company Scale AI to turbocharge services with smart tools.(7) Talk about turning sand into silicon! ??

What Else Is Trending

• ?? European stocks and the euro firmed on Monday after Germany’s closely watched elections delivered what media called a “mainstream” outcome.(8) Friedrich Merz, the country’s new conservative leader, is set to take the reins as chancellor. The news sent the DAX soaring 1.2% and the euro climbing 0.44% to $1.0507 on Monday.(9) Europe’s turning a new page with a bang! ??
• ??? Meanwhile, on Friday, oil prices slid over $2 as Mideast risk premium faded and Ukraine peace jitters cooled investor fervor—Brent dropped 2.68% to $74.43 and WTI slid 2.87% to $70.40.(10) ↘?
• ?? Meanwhile, profit-hungry investors cashed in on record gold highs, nudging spot gold down 0.1% to $2,939.63.(11) ??

??Quote of the Day

“We are all in the gutter, but some of us are looking at the stars.” — Oscar Wilde, Irish poet and playwright

amana.app

Sources:(1) (4) (5) (6) (7) Zawya, (2) CNBC, (3) (8) (9) (10) (11) Reuters