Tuesday 5 October 2010

Bahrain's Mumtalakat to float 11.47 pct Alba stake in IPO | Reuters

Bahrain's sovereign wealth fund Mumtalakat plans to float up to 11.47 percent of its stake in Aluminium Bahrain [ALNUB.UL] (Alba) in an initial public offering (IPO) planned for later this year.

In a statement on Tuesday, Alba said Mumtalakat plans to sell up to 163 million ordinary shares in the firm. An Alba spokesman said the company had 1.42 billion shares outstanding.

Mumtalakat owns a 77 percent stake in Alba, with Saudi Basic Industries 2010.SE (SABIC) holding a minority stake."

No comments:

Post a Comment