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UAE's ALEC Provides Dh1.35–1.40 per Share IPO Price Range Before Dubai Market Listing

By Faizal

23 Sep 2025

UAE's ALEC Provides Dh1.35–1.40 per Share IPO Price Range Before Dubai Market Listing

Dubai — Construction and engineering behemoth ALEC Holdings fixed the price range for its initial public offering (IPO) at Dh1.35–1.40 per share, as Dubai drives ahead with one of the most highly anticipated listings this year.

The IPO, equating to 20% of ALEC's capital or one billion shares, was launched on September 23 and will continue until September 30. The closing price will be determined on October 1 and the company is set to list on the Dubai Financial Market (DFM) on October 15.

Parent firm Investment Corporation of Dubai (ICD) will hold back an 80% stake for a 180-day lock-up. Institutional investors have been allocated 94% of the offered shares, retail buyers 5%, and 1% for ALEC staff. Emirates Investment Authority and the Local Military Personnel Pensions and Social Security Fund have been allocated 5% priority rights each.

The offer highlights Dubai IPO momentum after successful debuts by Salik and Spinneys, and provides investors with access to one of the region's top contractors.

Written by

Faizal

Faizal is an experienced content creator and writer with a strong focus on business trends, economic developments, and emerging opportunities across the Gulf region. His work reflects a keen understanding of evolving markets, industry dynamics, and the factors shaping the region’s business landscape. With a research-driven approach, Faizal transforms complex market developments into clear, informative, and actionable insights for professionals, entrepreneurs, and business leaders. His content aims to provide valuable perspectives on key economic trends and developments influencing businesses across the Gulf.