ALEC Holdings has announced the price range for its upcoming ALEC IPO, setting it at Dh1.35 to Dh1.40 per share. The offering represents a significant milestone for one of the UAE’s largest engineering and construction firms as it prepares to list on the Dubai Financial Market.
The transaction involves one billion shares, equal to 20 percent of the company’s capital. Subscription opens on September 23 and closes on September 30.ALEC will confirm the final offer price on October 1. The firm will debut on the Dubai Financial Market on October 15.
The Investment Corporation of Dubai, ALEC’s parent, will continue to hold an 80 percent stake. This remaining portion will be subject to a 180-day lock-up period, ensuring stability following the listing. The allocation structure reserves 94 percent of the shares for institutional and professional investors. A further 5 percent will be offered to retail participants, while 1 percent has been reserved for ALEC employees.
Executives said the IPO reflects confidence in Dubai’s capital markets and aims to strengthen the company’s financial flexibility. The move comes during a period of active listings in the UAE, as state-linked firms continue to broaden access to equity markets.
Industry analysts view the announcement as a strong signal of investor appetite for infrastructure and contracting firms. The pricing range reflects the company’s ambition to attract both regional and global capital. Furthermore, the IPO highlights Dubai’s ongoing strategy to deepen its financial markets.
Observers noted that engineering and construction remain central to regional economic growth. As public and private projects expand, firms like ALEC stand to benefit from increased spending. The listing also provides a new opportunity for investors to gain exposure to the sector.
Market participants expect robust demand given the company’s established reputation and government backing. Subscription trends during the offering period will provide insight into broader investor sentiment. Many expect high levels of interest, particularly from institutional buyers.
The ALEC IPO is expected to provide momentum for additional offerings in the UAE. Policymakers continue to encourage listings that diversify investment options and boost market liquidity.
The offering underscores Dubai’s commitment to positioning itself as a leading financial hub. Therefore ALEC IPO marks both a milestone for the company and a step forward for the market.
