Aluminium Bahrain lists on the London Stock Exchange

The world’s fourth largest aluminium producer has is the 43rd Middle East company to list in London
Aluminium Bahrain lists on the London Stock Exchange
In addition to its listing on the Bahrain Stock Exchange, it brings Alba’s total global share offering to approximately $339m. (Bloomberg Images)
By Shane McGinley
Wed 01 Dec 2010 11:24 AM

Aluminium
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.

The
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.

"The
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
of Alba.

"We
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.

Alba,
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.

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