UAE's ALEC holdings to offer 20% of its shares in IPO, Gulf News reports

Sept 15 (Reuters) - Dubai contracting firm ALEC Holdings will sell 1 billion shares, equivalent to a 20% stake, in an initial public offering, Gulf News reported on Monday.

The subscription period will run from September 23 to September 30, with shares expected to list on the Dubai Financial Market on October 15, it said.

(Reporting by Yomna Ehab; Editing by Kim Coghill)

((yomna.ehab@thomsonreuters.com;))

More This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.