UAE construction firm ALEC Engineering & Contracting could join the growing list of Dubai companies to launch an initial public offering (IPO) and list on the stock market.

The state-backed Investment Corporation of Dubai (ICD) has held early talks on a potential IPO and listing of the company, Bloomberg reported on Tuesday, citing people familiar with the matter.

The construction firm is part of the portfolio of IDC, the investment arm of the Government of Dubai.

No details of the IPO, including the size and schedule of the share offering, have been shared.

Deliberations are still ongoing, and ICD may still decide not to go ahead with the listing, according to the news agency.

In 2017, ICD acquired ALEC from Al Jaber Group, which is based in Abu Dhabi. It has worked on hospitality, leisure, retail, airport, residential and commercial projects, according to its website.

(Writing by Cleofe Maceda; editing by Seban Scaria)