BAHRAIN Aluminium Extrusion Company (Balexco) shareholders approved a plan to transition the firm into a public shareholding company and list on the Bahrain Bourse, the company said.
The announcement, made following annual and extraordinary general meetings at the company’s Sitra headquarters, remains subject to the board completing feasibility studies and legal requirements.
The board has been granted full authority to determine the timing and mechanism of the potential initial public offering (IPO) or to abandon the plan if it is deemed unfeasible.
“The plan to transition into a public shareholding company marks a pivotal step for Balexco’s future, offering opportunities to enhance transparency and broaden our shareholder base,” chairman Jassim Seyadi said.
Shareholders also approved a 5 per cent cash dividend totalling BD465,000 and a 5pc bonus share issue for the fiscal year 2025. The bonus issue will increase Balexco’s paid-up capital to BD9.773 million.
The move follows a year of sustained profitability and the fourth consecutive year of sales growth for the industrial firm.
During the assembly, a new eight-member board was also formed for the 2026–2028 term, consisting of five appointed and three elected members.
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