Bahrain (Alba), the world's fourth-largest producer of aluminium by capacity,
has become the 43rd Middle Eastern company to be listed on the
London Stock Exchange, it was announced on Tuesday.
total value of shares offered by the Bahrain-based producer in London was
$174.7m. In addition to its listing on the Bahrain Stock Exchange, it brings
Alba’s total global share offering to approximately $339m.
aluminium sector has a positive global outlook and as such we are delighted
that joining the London Stock Exchange has helped us attract a strong
international institutional investor base,” said Mahmood Al Kooheji, chairman
are delighted that Aluminium Bahrain has chosen London for its listing outside
of its home market. The London Stock Exchange continues to be the public market
of choice for Middle Eastern companies looking to access the capital they need
to become global leaders,” added Tracey Pierce, director of equity primary
markets at London Stock Exchange Group.
which is owned by the Bahraini and Saudi Arabian governments, produces a
variety of aluminium products at its 850,000 metric-ton smelter in Bahrain and,
over the past three years, annual production has exceeded 860,000 tonnes. In
September, it had a first-half profit of $200m, beating its own forecasts.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.