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Bahrain's Mumtalakat announces opening of ALBA IPO  Join our daily free Newsletter

MENAFN Press - 24/10/2010

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(MENAFN Press) The Application Process: Where do I apply?
Application Forms will be available from the receiving banks.

The receiving banks in Bahrain are Standard Chartered Bank, the Lead Receiving Bank, Ahli United Bank B.S.C., Al Baraka Islamic Bank B.S.C. (c), Al Salam Bank-Bahrain B.S.C., Bahrain Islamic Bank B.S.C, and Bahraini Saudi Bank B.S.C. Application Forms are also available from the offices of the Regional Lead Manager, Gulf International Bank B.S.C., and the Issue Registrar, KPMG Fakhro.

In Oman, the receiving banks are Standard Chartered Bank, Ahli Bank SAOG and Bank Sohar SAOG.

In Qatar, the receiving banks are Standard Chartered Bank, Ahli Bank QSC and Al Khaliji Bank.

In the UAE, the receiving banks are Standard Chartered Bank, Abu Dhabi Commercial Bank (ADCB) and Noor Islamic Bank (NIB).

The Retail Offering Period will be open for two weeks, closing on or about Thursday 4 November 2010.

What proof of identity will I need?
You will need two forms of identification: A passport and an additional government issued ID card, such as a smart card, Khulaset Kayd, National ID or Valid Drivers License. You will also need one photocopy of each.

Do I need to provide proof of address?
Proof of Address is required when applying for Ordinary Shares more than or equal to USD 15,000. Proof of Address can be in the form of a Utility Bill, Phone Bill or Bank Statement in the name of the Applicant.

Who can buy the Ordinary Shares?
The retail offering is open to all GCC citizens, and to all citizens from other countries who are able to complete an Application Form and deliver it with payment to a receiving bank in Bahrain, Oman, Qatar or the UAE before the close of the offering period.

Can all Bahraini Citizens apply?
Yes, as long as they have a passport, and an additional government issued ID such as, but not limited to, a CPR or a Smart Card.

How many applications can be submitted per Applicant?
Only one Application Form can be submitted per Applicant. If the Applicant applies more than once, all applications may be rejected.

Can I apply on some ones else's behalf. If yes, can I sign the form on the investors behalf?
Yes, however such applications will only be accepted where the Applicant is a minor. For such cases, the Application Form must be signed by the legal guardian providing a duly certified and notarized power of attorney or evidence of legal guardianship. Furthermore, a valid passport copy of the guardian is also to be submitted.

The Offer and the Price

What is the Initial Offering Price for Retail investors?
Retail investors can apply to purchase shares at the Initial Offering Price of BD 1.250 per share.

What is the Initial Offering Price for institutional investors?
Institutional investors can place orders for Ordinary Shares within the price range of BD 0.900-1.250 per share.

Does this mean retail investors will pay a higher price per Ordinary Share?
No, retail and institutional investors will purchase Ordinary Shares at the same Final Offering Price.

The Final Offering Price will be determined through the institutional bookbuilding process and will be announced after the closing of the offer period, on or around November 8, 2010. The Final Offering Price will apply to both retail and institutional investors.

If the Final Offering Price is lower than the Initial Offering Price paid by retail investors, you will be refunded the difference. Retail investors can chose to receive the refund either as additional Ordinary Shares (subject to availability) or cash. This is an option on the Application Form.

Bahraini citizens will receive a 10% discount on the Final Offering Price per Ordinary Share for the first 2,000 Ordinary Shares they purchase only.

Are Bahraini citizens limited to 2,000 Ordinary Shares?
Bahraini citizens can purchase as many Ordinary Shares as they like. However, they will only receive their 10% discount on up to 2,000 Ordinary Shares per person.

Whats the minimum level of Ordinary Shares that I can purchase?
In the retail offering, it is 100 Ordinary Shares for Bahraini citizens and 500 Ordinary Shares for non-Bahrainis.

When will the Ordinary Shares be listed on the Bahrain Stock Exchange?
Currently the listing is targeted for Sunday, 5 December 2010, which is subject to change.

How can I pay?
Applicants must remit with the Application Form to the approved branch of the Receiving Bank their cleared funds for the Ordinary Share purchase together with, if applicable, the BD4 BSE CSD Account opening fee before the allocation date.

If funds for the Ordinary Share purchase are submitted in the local currency, Applicants are able to pay by way of managers cheque /demand draft, direct debit or wire transfer / telegraphic transfer.

If funds for the Ordinary Share purchase are submitted in United States Dollars, Applicants are only permitted to pay by wire transfer / telegraphic transfer.

If applicable, how will refunds be made?
If the Final Offering Price for Institutional Investors is lower than the Initial Offering Price on the basis of the institutional bookbuilding process, retail investors will have the option to receive a cash refund or additional shares. You will have to indicate that on the Application Form.

Refunds will be provided to the Applicant through a Managers Cheque, Demand Draft or Telegraphic Transfer after the Allotment Date.

If an Applicant elects to receive additional Ordinary Shares, if available, he or she will only receive an integral whole number of Ordinary Shares; no fractional Ordinary Shares will be allocated.

About Aluminium Bahrain (ALBA)
Aluminium Bahrain (ALBA)


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