Bahrain Aluminium Extrusion Company (Balexco), a leading producer of aluminium extrusion products used primarily in construction sector with operations across the Gulf and wider region, said it has won approval from its shareholders at the AGM to go ahead with its plan for a stock market listing.
Buoyed by the go-ahead from the shareholders to transform the company into a public shareholding firm, Balexco said the final move would be made after the board completes technical, financial and legal studies to assess feasibility and alignment with shareholder interests.
For now, the board has been authorised to determine the timing, mechanism and conditions of the listing, and to appoint legal and financial advisors, issue managers, and any other parties necessary for this process.
Speaking on the occasion, Chairman Jassim Mohammed Seyadi said: "The resolutions passed by the Annual and Extraordinary General Meetings reflect shareholders’ confidence in the Company’s growth trajectory and its ability to achieve sustainable value. In 2025, Balexco continued to enhance its operational and financial performance, supported by extensive experience in aluminium extrusion and its position as a leading Bahraini industrial enterprise."
He pointed out that the plan to transition into a public shareholding company listed on the Bahrain Bourse marks a pivotal step for Balexco’s future, offering opportunities to enhance transparency, broaden our shareholder base, and increase long-term value.
"The Board will proceed with careful consideration of this step, fulfilling the necessary technical, financial, and legal requirements to ensure the most appropriate decision is made in the best interests of the company and its shareholders. Looking ahead, we aim to build on our achievements and strengthen Balexco’s role as a competitive Bahraini industrial leader in regional and international markets," he stated.
During the meeting, Balexco's shareholders approved distribution of a 5% cash dividend and a 5% bonus share distribution for the year ended Dec. 31, 2025.
Total profit distribution amounted to BD1.166 million ($3.1 million), including BD465,000 in cash dividends and BD465,000 in bonus shares. Around BD117,000 was allocated to the legal reserve, with the remainder transferred to retained earnings, it stated.
Balexco said the bonus share issuance would increase its issued and paid-up capital by 5% to about 9.77 million dinars, representing 97.7 million shares at a nominal value of 100 fils each, it added.
"The approval of distributing cash dividends and bonus shares underscores our commitment to rewarding shareholders for their continued trust while maintaining a strong financial base to enable investment in operations, production and competitive capabilities," he stated.
The meetings concluded with affirmation of Balexco’s commitment to continuous business development, enhancing operational efficiency, and strengthening governance and transparency principles to drive its aspirations and contribute to the industrial sector in the Kingdom of Bahrain.-TradeArabia News Service