Aluminium Bahrain (Alba) is exploring a potential listing on the Saudi Exchange (Tadawul) as part of its overall business strategy, the company said in a statement published on Bahrain Bourse on Tuesday.
“This initiative is still under review and evaluation by the management in light of receiving the government’s notification on the natural gas supply and prices for the coming five-year period,” the aluminium producer added.
The clarification came after Akhbar Al Khaleej, an Arabic daily, reported that Alba's shares will be listed on Tadawul by 2024-end
In June 2022, Alba said it was looking at the possibility of a secondary listing on the Saudi bourse.
In August, Alba reported a profit of BD29.9 million ($79.5 million) for the second quarter of 2023, down 83.6% from BD181.9 million for the same period in 2022.
Total production reached 405,628 metric tonnes (MT) in Q3 2023, up 9,085 MT from Q2 2022.
(Editing by Seban Scaria firstname.lastname@example.org )