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FinancialNews


  • 18-10-10

    Mumtalakat plans IPO for 11.5% stake in Alba

    (MENAFN) Mumtalakat Holding, the investment arm of the government of Bahrain, has announced an initial public offering (IPO) offering to sell its 163.3 million shares or 11.5 percent in Aluminium Bahrain (Alba). The IPO will open on October 24 and close on November 4. Final offering price will be announced on November 8 and the allotment announcement date is November 18 with BSE listing and trading to start on December 5. Mumtalakat intends to allocate the ordinary shares (represented by GDRs in the GDR offering) to institutional investors and retail investors, in the ratio of 75 per cent and 25 per cent respectively. The regional lead manager for the issue is Gulf International Bank (GIB) and the lead receiving bank and escrow agent is Standard Chartered Bank

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