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Infrastructure 
State-backed Alec Engineering targets USD 500 mn IPO in mid-2025
The offering is slated for mid 2025
ICD, Binghatti see bottomline growth in 2023
ICD saw its net income hit a fresh record, while Binghatti’s top line more than doubled in 2023
ICD-backed Alec taps banks ahead of planned IPO
Alec appointed Emirates NBD Capital and JPMorgan Chase as advisors
Dubai Holding now holds a minority stake in Emirates NBD
ICD transferred over 900 mn shares to Dubai Holding
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