Bahrain’s Alba studies cross listing on Tadawul

Logo of Aluminium Bahrain (Alba)

Aluminium Bahrain (Alba), listed on Bahrain Bourse and London Stock Exchange, affirmed that it continues to study various initiatives to enhance shareholder value as part of its strategic plan, including a potential secondary share listing on the Saudi Exchange (Tadawul).

The initiative for Alba's secondary listing on Tadawul is under review by the management, following a government notice on five-year natural gas supply and prices.

The company emphasized its commitment to fulfilling mandatory reporting obligations, ensuring its statements are always fact-based rather than speculative.

Alba's Chairman Khalid Al Rumaihi, in a statement to Akhbar Al Khaleej, said he expects the company to list shares on Tadawul by end of 2024.

The company said in June 2022 that it was exploring several opportunities, including the possibility of a secondary listing on Tadawul, according to data compiled by Argaam.

SABIC Industrial Investments Co. (SABIC Industrial Investments) owns approximately 20.6% of Alba, and Bahrain Mumtalakat Holding Company (Mumtalakat) owns about 69.4%.

Alba was established in 1968 and is one of the largest smelters in the world, producing aluminum products at a rate exceeding 1.6 million metric tons annually, according to 2022 data.

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