Mumtalakat to float 11.47 per cent Alba stake in IPO

06 October 2010

Sovereign wealth fund owns a 77% stake in aluminium producer

Aluminium Bahrain (Alba) has said the kingdom’s sovereign wealth fund, Mumtalakat, plans to float up to 11.47 per cent of its stake in the aluminium maker in an initial public offering (IPO) planned for later this year, Reuters has reported. Mumtalakat, which owns a 77 per cent stake in Alba, plans to sell up to 163 million ordinary shares in the firm, Alba said.

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