The total value of the company's Global Depositary Receipt (GDR) offering in London was $174.7 million, and was made alongside an Ordinary Share offering on the Bahrain Stock Exchange, raising a total of approximately $339 million. Trading in the GDRs and Ordinary Shares commenced today on the London and Bahrain Stock Exchanges, respectively, under the symbol ‘ALBH’.
Tracey Pierce, Director of Equity Primary Markets at London Stock Exchange Group, said, "We are delighted that Aluminium Bahrain has chosen London for its listing outside of its home market. Situated at the heart of the world's most international financial centre, 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. Today's successful issue by Aluminium Bahrain highlights the London market's appetite to fund the growth of ambitious companies from the region and underscores London's expertise in financing natural resources companies."
Mahmood Al Kooheji, Chairman of Alba, said, "London formed an integral part of our transition to becoming a public company. We believe that it demonstrates our commitment to transparency and strong 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 institutional investor base."
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