Alec Holdings, one of the leading multi-disciplinary engineering and construction groups in the UAE and Saudi Arabia, has announced its intention to list 20% of its issued capital on the Dubai Financial Market through an initial public offering. The Investment Corporation of Dubai (ICD), the selling shareholder and the principal investment arm of the Government of Dubai, retains the right to amend the offering size before the subscription period ends.
The subscription period is scheduled to run from 23 to 30 September 2025, with the shares expected to be listed for trading on 15 October 2025. The IPO will be open to individual subscribers under the first tranche, professional investors outside the United States under the second tranche, and eligible employees of both Alec and ICD under the third tranche. The Internal Sharia Supervisory Committee of Emirates NBD has confirmed that, in its view, the IPO is compliant with Islamic Sharia principles.
Alec Holdings comprises a diverse portfolio of subsidiaries, including Alec Engineering and Contracting, Target Engineering Construction, Alec Fitout, ALEMCO, Alec Data Center Solutions, and Alec Energy, in addition to specialized companies in façades, modular housing, and equipment rentals.
This IPO represents a significant milestone in the company’s journey, enhancing its presence in the capital markets and offering investors an opportunity to take part in the success story of a group that has played a pivotal role in delivering landmark projects across the UAE and Saudi Arabia.
