Al Habtoor Leighton Group, a leading Dubai-based contractor, is expected to come up with an initial public offering in May, a report said.

The company is likely to offer about 40 per cent of its shares in the IPO, the Bloomberg report said.

'The company doesn't need capital from the IPO, but it would benefit from the structure and demands that come with being a publicly traded company,' Khalaf Al Habtoor, chairman of Al Habtoor Group, was quoted as saying in the report.

The Al Habtoor Leighton Group was established in September 2007 following the merger of Al Habtoor Engineering with the Gulf operations of Leighton International.Leighton is Australia's largest construction company and it is also controlled by Hoch-tief, Germany's biggest construction firm.