Aluminium Bahrain (Alba) has priced the institutional tranche of its initial public offering (IPO) at BD0.900 per share, its largest stakeholder Mumtalakat said on Monday.
The final price of the IPO, which saw the fund float 142 million ordinary shares, was determined through a bookbuilding process, Mumtalakat said in a statement.
The state-backed fund, which owns 77 percent of Alba, said in October it planned to raise up to BD204m ($530m) in the IPO as it diversified away from local investments.
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