What investors need to know about ALEC IPO

Massive backlog, dividend policy, and Saudi expansion tip scales in its favour

- BY JUSTIN VARGHESE Your Money Editor

Dubai’s stock market has been buzzing with big-name listings over the past three years. From Salik and Parkin to Dubai Taxi and Dewa, state-backed IPOS have drawn record subscriptions and strong gains.

Now, another heavyweight has stepped in: ALEC Holdings, one of the UAE’s most recognised construction giants. Subscriptions for its IPO on the Dubai Financial Market (DFM) opened on Tuesday.

Should you buy in?