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Alec prices IPO at top end of range
Khaleej Times
|October 02, 2025
Alec Holdings announced on Wednesday the final offer price of its initial public offering, pricing it at the top end of Dh1.4 per share, raising Dh1.4 billion.
The engineering and construction group said the IPO was substantially oversubscribed, attracting strong demand from investors across the UAE, the Gulf Cooperation Council (GCC) and international markets. Its IPO’s aggregate demand was approximately Dh30 billion ($8.1 billion), resulting in an oversubscription of more than 21 times across all tranches.
This is the UAE’s largest construction IPO ever — by both valuation and size — and the first IPO in the sector in over 15 years.
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