ALEC Holdings announces intention to float on DFM

ALEC Holdings today announced its intention to list 20 per cent of its share capital on the Dubai Financial Market (DFM) through an Initial Public Offering (IPO), with the Investment Corporation of Dubai (the “Selling Shareholder” or “ICD”) retaining the right to amend the size of the Offering at any time prior to the end of the subscription period at its sole discretion, subject to applicable laws and the approval of the Securities and Commodities Authority (SCA).

- 

ALEC Holdings is a market-leading diversified engineering and construction group with operations focused on large-scale, complex and iconic buildings and energy projects in the UAE and Saudi Arabia.

ICD, the principal investment arm of the Government of Dubai, is currently the sole shareholder of ALEC and is offering 1,000,000,000 (one billion) ordinary shares (“Shares”) through the Offering. The Offering subscription period is expected to run from September 23rd to 30th, 2025 (both days included).