22 Sep 2010
(MENAFN) Mahmood Al Kooheji, chairman of Bahrain-based Alba which is owned by the kingdom’s sovereign wealth fund; Mumtalakat, said that this year the company is planning to start on an initial public offering (IPO), Gulf Daily News reported.
Alba shareholders have not determined the size of the stake although profits of the IPO would be used by Mumtalakat to initiate investments.
Due to lower aluminum prices, Alba posted a full-year net loss of $220.7 million last year, compared with a profit of $781.9 million two years ago.
He added that in 2011, Alba is going to decide whether to add a sixth production line that would get the capacity of its aluminum smelter to 1.5 million tons on an annual basis or not.
It is worth mentioning that telecoms and energy sectors as well as government assets are expected to lead a recovery in the Gulf IPO market.
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
26 Jan 2026
BBK Enhances Autumn Fair 2026 Experience with Customized Rewards and Premium Services
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more