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Abu Dhabi Islamic Bank PJSC, acting as a receiving bank, presents you with the opportunity to subscribe to ALEC’s IPO on the DFM
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
ALEC in Numbers Record FY 2024 performance AED8,101mn Revenue AED646mn Adjusted earnings before finance cost, taxes, depreciation & amortization (EBITDA)1 8.0% Adjusted earnings before finance cost, taxes, depreciation & amortization (EBITDA)2 Margin AED363mn Net Income 4.5% Net Income Margin Sustained momentum in H1 2025 AED5,362mn Revenue AED437mn Adjusted earnings before finance cost, taxes, depreciation & amortization (EBITDA)1 8.2% Adjusted earnings before finance cost, taxes, depreciation & amortization (EBITDA)2 Margin AED239mn Net Income 4.5% Net Income Margin Large and secured backlog AED35.4bn Backlog(as of 30 June 2025) 3.5x Coverage Ratio3 1. Adjusted earnings before finance cost, taxes, depreciation & amortization (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. Adjusted earnings before finance cost, taxes, depreciation & amortization (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 AED200mn Payable in April 20265 AED500mn For FY-2026 payable in October 2026 and April 2027 Minimum50% 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
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
23 Sep 2025
Offer commencement date & price range announcement
30 Sep 2025
Closing date for all tranches
1 Oct 2025
Announcement of final offer price
7 Oct 2025
Final Allocation
8 Oct 2025
Commencement of refunds
Constitutive General Assembly
15 Oct 2025
Expected date of listing on the DFM
www.alec.ae/ipo
ADIB IPO Call Centre: +971 2 652 0878
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 in the Prospectus.
Terms and conditions apply.
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