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Mumtalakat to float 11.47% Alba stake in IPO

Aluminium Bahrain (Alba) has said the kingdom's sovereign wealth fund, Mumtalakat, plans to float up to 11.47% 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% stake in Alba, plans to sell up to 163 million ordinary shares in the firm, Alba said.