ALEC Holdings PJSC (under conversion in Dubai, United Arab Emirates), announced its intention to list 20% of its share capital on the Dubai Financial Market (“DFM”) through an Initial Public Offering (“IPO”).

Subscriptions will open on 23 September 2025.
Al Maryah Community Bank acting as a receiving bank, presents you with the opportunity to subscribe to ALEC’s IPO on the DFM.

ALEC’s Investment Proposition

ALEC Holdings (and together with its subsidiaries, “ALEC”) is a market leading diversified engineering and construction group with operations focused on large-scale, complex and iconic building and energy projects in the UAE and the Kingdom of Saudi Arabia (KSA).

Longstanding track record of financial and commercial success

Operational excellence underpinned by selective tendering process, robust risk management framework, and an innovative approach

Unparalleled capabilities to deliver large-scale complex and iconic projects

Trusted by a large and growing network of blue-chip clients in the private and public sectors

Access to exclusive, high-value projects through bilateral negotiations

Strongly positioned to continue capturing significant growth in the UAE and KSA

Large secured backlog set to drive visible growth

Robust financial profile and significant acceleration in revenue and profits

Best-in-class management team supported by an accomplished Board of Directors and shareholder

Customer Charter

ALEC in Numbers

  • 💰Revenue : FY-2024 AED 8,101mn     H1-2025 AED 5,362mn
  • 📈EBITDA1 : FY-2024 AED 646mn   H1-2025 AED 437mn
  • 📊 EBITDA Margin 2 : FY-2024 8.0%   H1-2025 8.2%
  • 💰 Net Income : FY-2024 AED 363mn   H1-2025 AED 239mn
  • 📉 Net Income Margin : FY-2024 4.5%   H1-2025 4.5%
  • 📦 Backlog (as of 30 June 2025) : AED 35.4bn
  • 🛡️ Coverage Ratio 3 : 3.5x

1 . EBITDA is calculated as profit for the period before income tax, finance costs, depreciation of property, plant and equipment and right-of-use assets, and amortisation of intangible assets
2 . EBITDA divided by revenue
3 . Backlog coverage ratio computed as backlog as of date divided by last twelve months’ revenue

Dividend Policy4

Attractive dividend policy aimed at supporting long-term value

  • 💰 AED 200mn payable in April 20265
  • 💰 AED 500mn For FY-2026 payable in October 2026 and April 2027
  • 💰 Minimum 50% Payout ratio of net profit FY-2027 onwards on a semi-annual basis

4. Subject to the approval of the Board of Directors and the availability of distributable reserves
5. Excludes the AED 85mn pre-IPO dividend paid to ICD relating to H1-2025 performance

Key IPO Dates

  • 📆 Offer commencement date & price range announcement : 23 September 2025
  • 📆 Closing date for all tranches : 30 September 2025
  • 📆 Announcement of final offer price : 01 October 2025
  • 📆 Final allocation : 07 October 2025
  • 📆 Commencement of refunds : 08 October 2025
  • 📆 Constitutive General Assembly : 08 October 2025
  • 📆 Expected date of listing on the DFM : 15 October 2025

If you wish to apply for leverage, please subscribe early to ensure adequate processing time.

To learn more about ALEC’s IPO, call 600571111

 Disclaimer:

This announcement has not been reviewed or approved by the SCA or any regulator in the UAE or elsewhere, does not form part of the Prospectus, and should not be considered an offer of securities in any jurisdiction. Any decision to invest in the shares should be based solely on the information