The London Stock Exchange uses cookies to improve its website. The cookies for analytical purposes have already been set. For more details and how to manage cookies, please see our privacy and cookies policy.

Welcome stories


8 December 2010
08/12/2010 The London Stock Exchange welcomes Aluminium Bahrain to the Main Market

On 30th November 2010, the London Stock Exchange welcomed Aluminium Bahrain B.S.C.(Alba), the world’s fourth-largest individual producer of primary aluminium, to the main market of the London Stock Exchange for the debut trading of its Global Depositary Receipt (GDR).

Alba is a producer of high-grade aluminium with average annual production exceeding 860,000 tonnes having reached a peak of nearly 872,000 tonnes in 2008. The company’s product portfolio includes extrusion billets, foundry alloys, rolling slabs, standard ingots and liquid metal.

alba

The IPO, which was the first public offering of shares by Alba, raised approximately US$ 339 million. The proceeds will be used to finance future growth plans by Mumtalakat, the holding company, which sold 10 per cent of Alba’s total outstanding equity share capital.

The total value of GDRs listed on the London Stock Exchange is US$ 174.7 million.

Mahmood Hashim Al Kooheji, Chairman of Aluminium Bahrain, said:

“London formed an integral part of our transition to becoming a public company. We believe that it demonstrates our commitment to transparency and stronger corporate governance. 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 investor base.”

J.P. Morgan Securities Ltd., was appointed to act as Sole Global Coordinator and Sole Bookrunner of the Offer and Lead Manager of the offering of GDRs. Gulf International Bank B.S.C. was appointed as Regional Lead Manager of the Offer. Citigroup Global Markets Limited was appointed Co--‐manager of the offering of the GDRs.

.

The Exchange accepts no responsibility for the content of the website you are now accessing or for any reliance placed by you or any person on the information contained on it.

By allowing this link the Exchange does not intend in any country, directly or indirectly, to solicit business or offer any securities to any person.

You will be redirected in five seconds.

You are accessing the London Stock Exchange Annual Report Service powered by PrecisionIR.

The Exchange accepts no responsibility for the content of the reports you are now accessing or for any reliance placed by you or any person on the information contained therein.

By allowing this link the Exchange does not intend in any country, directly or indirectly, to solicit business or offer any securities to any person.

You will be redirected in five seconds