Aluminum Bahrain Plans Listing on Saudi Arabia Exchange - Bloomberg:
"Aluminium Bahrain, the second-largest aluminum smelter in the Middle East, is planning to cross-list its shares in Saudi Arabia, according to four people familiar with the matter.
Aluminium Bahrain, also known as Alba, is seeking to improve its valuation rather than raise money from the listing, the people said, asking not be identified as the plan isn’t public. Alba has a primary listing in Bahrain with its global depository receipts trading in London.
The metals producer is hoping to capitalize on investor interest in Saudi Arabia as the biggest Arab stock exchange opens to direct foreign investment for the first time in 2015. The Saudi Tadawul benchmark index gained 30 percent this year and is the sixth best performing stock index in the world, according to data compiled by Bloomberg. The compares with a 17 percent advance for the Bahrain Bourse All Share Index."
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