Aluminium Bahrain (Alba), one of the largest smelters globally, is considering a secondary listing on the Saudi Exchange (Tadawul) as part of its broader business strategy. The company is weighing this decision in light of the government's forthcoming decisions regarding natural gas supply and prices for a five-year period. The potential listing on Tadawul is projected to take place by the end of 2024, according to Chairman Khalid Al Rumaihi's confirmation to the Arabic daily Akhbar Al Khaleej.
Today, the company's shares are listed on the Bahrain Bourse and London Stock Exchange. The secondary listing on Tadawul has been under review since June 2022. This strategic move aims to enhance shareholder value, particularly influenced by a government notice on five-year natural gas supply and prices. Major stakeholders in Alba include SABIC Industrial Investments and Bahrain Mumtalakat Holding Company, which own 20.6% and 69.4% of shares respectively.
Despite experiencing a significant profit drop to BD29.9 million ($79.5 million) in Q2 2023 from BD181.9 million in Q2 2022, Alba's production rose to 405,628 metric tonnes in Q3 2023, according to a statement released by the Bahrain Bourse.
Established in 1968, Alba has an annual production exceeding 1.6 million metric tons of aluminum and upholds a commitment to fact-based reporting.
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