IN’P IBRAHIM .N. PARTNERS Advised ALEC on its Landmark IPO on the Dubai Financial Market

IN’P IBRAHIM .N. PARTNERS Advised ALEC on its Landmark IPO on the Dubai Financial Market

IN’P IBRAHIM .N. PARTNERS acted as UAE Legal Counsel to ALEC Engineering and Contracting L.L.C. (“ALEC”) in connection with its initial public offering (IPO) and listing on the Dubai Financial Market (DFM).

The ALEC IPO represents a landmark transaction, the UAE’s largest construction sector IPO by both valuation and offering size, underscoring continued investor confidence in Dubai’s dynamic capital markets.

This transaction marks the second IPO advised by IN’P IBRAHIM .N. PARTNERS in 2025, and the sixth offering under the Dubai Government’s landmark privatization program, following the successful listings of DEWA, TECOM, Empower, Dubai Taxi, and Dubai Residential REIT.

The IPO, which raised approximately AED 1.4 billion (US$381 million) and achieved an implied market capitalization of around AED 7 billion (US$1.91 billion), also represents the first construction-sector IPO in the UAE in over 15 years.

ALEC is a leading diversified engineering and construction group with operations across the UAE and the Kingdom of Saudi Arabia, delivering large-scale projects across sectors including aviation, hospitality, mixed-use developments, and infrastructure.

IN’P IBRAHIM .N. PARTNERS’ role as UAE Legal Counsel covered all UAE regulatory and offering-related aspects of the transaction, including adviced on SCA, DFM, and UAE Companies Law matters, coordination with international counsel, and review of offering documentation.

Commenting on the transaction, Ahmed Ibrahim, (Managing Partner) of IN’P IBRAHIM .N. PARTNERS said,

“We are proud to have advised ALEC and its shareholders on this milestone transaction. The successful listing reinforces Dubai’s position as a leading regional capital markets hub and reflects the continued momentum of the Government’s privatization and IPO program.”

This transaction further consolidates IN’P IBRAHIM .N. PARTNERS position as a market leader in UAE capital markets, having advised on multiple landmark IPOs across diverse sectors including technology, healthcare, real estate, and infrastructure.

The IN’P IBRAHIM .N. PARTNERS team led by Ahmed Ibrahim (Managing Partner).

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