ALEC Holdings announced plans for a new listing in Dubai, offering investors a 20% stake in the company. The engineering and construction firm confirmed the sale of one billion shares. This move targets high investor demand during a strong phase for Dubai’s equity markets. The announcement also highlights the continued boom in Gulf construction.
To begin with, the company expects the deal to raise about $400 million, according to financial sources. The subscription window will open for a week and then close. At the end of this period, ALEC will confirm the final offer price. Soon after, the shares will list on the Dubai Financial Market.
ALEC Holdings currently operates under the Investment Corporation of Dubai, which owns all shares. Following the listing, ICD will continue to control 80% of the company. ALEC also expanded into Saudi Arabia while maintaining a strong UAE presence. This regional footprint improves its profile as it enters the market.
Additionally, dividend plans remain an attractive part of ALEC’s strategy. The firm intends to distribute 500 million dirhams in cash dividends for the 2026 financial year. From then on, it will pay dividends semi-annually. ALEC is committed to a minimum payout ratio of 50% of net profit.
The company addressed questions about the deal by stressing its policies. It stated clearly that it does not comment on market rumors. Instead, it reaffirmed its commitment to transparency and investor communication. This clarity strengthens confidence in the upcoming listing.
Dubai’s listing activity has surged in recent years, generating billions in equity sales. State-backed companies and private firms both contributed to this rapid growth. Dubai has become one of the most dynamic markets in the Gulf. Investors remain highly optimistic about the city’s future expansion.
Recently, attention has shifted toward follow-on offerings as shareholders trim stakes. Sovereign wealth funds and family businesses lead these transactions. This shift demonstrates the maturity of Dubai’s market. Firms now treat listings as an effective way to unlock long-term value.
Construction and contracting companies in the region continue to enjoy rising demand. Infrastructure projects and housing development fuel growth opportunities. Dubai’s real estate recovery adds further strength to firms like ALEC Holdings. These conditions make the listing more appealing to potential investors.
Dubai also benefits from rapid population growth, which drives more investment needs. The city recently surpassed four million residents, adding pressure for more housing and services. The Dubai Financial Market index climbed over 16% this year. It outperformed major global benchmarks and attracted fresh global capital.
Ultimately, Emirates NBD Capital and J.P. Morgan will coordinate the listing as joint bookrunners. They will manage the process and connect the deal with global investors. As a result, their experience ensures strong market execution. The collaboration underscores the scale of ALEC’s market entry.
