Alec Holding Shares jumped in its first trade session in Dubai with more than 7%

Alec Holding Company’s shares jumped by more than 7% at the beginning of its first trade session on the Dubai Financial Market, before reducing its profits to about 1.4% to 1.42 dirhams. The company has attracted orders of approximately 30 billion Dirhams ($ 1.91 billion) for the initial public offering of a 20%stake, which amounts to 1.4 billion dirhams on the financial market of Dubai, indicating investors’ appetite for initial public offers in the emirate. The offer is the second this year in Dubai, and the largest in the UAE construction sector in terms of market value and size, according to what the company said during the offer.