Bahrain Aluminium Extrusion Company (Balexco) has approved plans to convert into a public shareholding company and list on the Bahrain Bourse, subject to technical, financial and legal feasibility studies, with the board authorised to decide on execution and timing.
The decision was taken at its Annual and Extraordinary General Meetings in Sitra, where shareholders also approved a 5 per cent capital increase through the issuance of 4.65 million bonus shares, raising paid-up capital to BD 9.773 million (USD 26 million) across 97.7 million shares.
For FY2025, the company approved a profit distribution of BD 1.166 million (USD 3.1 million), including a 5 per cent cash dividend of BD 465,000 (USD 1.2 million) and an equal amount in bonus shares. Around BD 117,000 (USD 310,000) was allocated to legal reserves, while BD 49,000 (USD 130,000) will be retained.
The company reported stable financial performance, with sales growing for the fourth consecutive year. Shareholders also approved financial statements, board and auditor reports, BD 64,000 (USD 170,000) in board remuneration, confirmed corporate governance compliance, discharged the board from liability, and elected a new board for the 2026–2028 term. The appointment of external auditors for 2026 was also approved.