Dubai - Mubasher: ALEC Holdings has set the price range for its initial public offering (IPO) on the Dubai Financial Market (DFM) between AED 1.35 and AED 1.40 per share.

The IPO values ALEC Holding at between AED 6.75 billion and AED 7 billion at listing, according to a press release.

The company offered 1 billion ordinary shares, representing 20% of its share capital, with a total offering size between AED 1.35 billion and AED 1.40 billion.

All offer shares are existing shares held by the Investment Corporation of Dubai (ICD), which will retain an 80% stake post-listing.

Following the transaction, ALEC will not receive proceeds from the sale, while ICD reserves the right to adjust the offering size during the subscription period.

Meanwhile, ALEC Holding is expected to distribute a cash dividend of AED 200 million in April 2026, followed by AED 500 million for 2026.

The first payment will be made in October 2026, while the second is scheduled for April 2027.

Based on the AED 500 million dividend for 2026, the offer price range implies a dividend yield of around 7.10% at the high end of the range and 7.40% at the low end.

Furthermore, ALEC Holding plans to distribute dividends on a semi-annual basis in April and October.

The company will apply a minimum payout ratio of 50% of net profit, subject to board approval and available reserves.