** Shares of UAE engineering and construction firm Alec Holdings ALEC.DU make their trading debut at 1.47 dirhams, 5% above the IPO price

** Co floated 1 billion shares, representing 20% of its equity, and raised $381 million during the offering

** Proceeds from the IPO will go to its parent organisation, the Investment Corporation of Dubai

** Dubai's main share index .DFMGI up 0.2% in early trade

(Reporting by Amna Mariyam in Bengaluru)

((Amna.mariyam@thomsonreuters.com))