Tuesday, October 5, 2010

Citigroup (NYSE:C), JPMorgan (NYSE:JPM) Hired by Aluminium Bahrain for Share Sale

Citigroup (NYSE:C) and JPMorgan (NYSE:JPM) have been retained by Aluminium Bahrain BSC to manage a sale of its shares on a number of exchanges, both local and international.

The sovereign wealth fund of Bahrain, Bahrain Mumtalakat Holding Co., may sell up to 163 million shares of the company, about 11.5 percent overall. The company has close to 1.42 billion shares outstanding.

Ordinary shares will be listed on the Bahrain exchange while global depository receipts on the London bourse.

J.P. Morgan Securities Ltd. was appointed as sole global coordinator and bookrunner for the proposed sale, while Citigroup Global Markets Ltd. was hired on as co-manager. Regional lead manager will be Gulf International Bank BSC.

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