RIYADH: Aluminum Bahrain, also known as Alba, is considering a second listing on Saudi Arabia’s bourse, Bloomberg reported citing unnamed sources.
Backed by the country’s sovereign wealth fund Mumtalakat, the company is already listed on Bahrain’s stock exchange — which it joined almost a decade ago.
Bloomberg’s sources said Mumtalakat is currently working with Moelis & Co. to advise on the potential offering.
The company is understood to have already started the process of seeking regulatory approval in Saudi Arabia.
The metal producer might start trading its shares publicly by the end of the year or early 2023, they added.
Alba, Mumtalakat, and Moelis declined to comment to Bloomberg on the news.