Talal Al Zain, chief executive of Bahrain Mumtalakat Holding Company, said he had been encouraged by the reaction to the offering so far.

“This demand is a reflection of the strength of the Alba business,” said Al Zain. “This IPO is helping to attract foreign direct investment into Bahrain and increasing the profile of Alba on the international stage, as well as supporting Mumtalakat’s strategy to grow the wealth of Bahrain.”

Mahmood Al Kooheji, chairman of Alba, said that with only five days left for the retail offering period for retail investors, potential investors should act as soon as possible to ensure they don’t miss out on taking part in this unique opportunity.

“Following a successful start to 2010 for Alba, exceeding growth targets and reporting a first-half profit of over $200 million, and with a positive outlook going forward, we are pleased to be offering investors the opportunity to share in the ownership of one of Bahrain’s flagship companies,” said Al Kooheji. “We also are excited about sharing this opportunity with our dedicated employees, without whom the success of the Alba business would not be possible.”

Full details of the application process, including location and contact details for the receiving banks in Bahrain, Oman, Qatar and the UAE, the regional lead manager and issue registrar, are available for eligible persons to view at the dedicated Alba IPO website, www.alba-ipo.com.

On the website and at select branches of the receiving banks, prospective retail investors can access a copy of the ordinary shares offering memorandum, which prospective retail investors must read in full before any decision to apply is taken.

The final offering price will be based on an institutional book building process and will apply to both retail and institutional investors. Bahraini citizens will be able to enjoy a ten percent discount for the first 2,000 ordinary shares applied for (subject to a minimum purchase of 100 ordinary shares). Under a general offering to retail investors who are not Bahraini citizens, each eligible non-Bahraini citizen may apply to purchase a minimum of 500 ordinary shares. There is no limit on the number of ordinary shares that can be applied for by retail investors. Retail investors are asked to apply for ordinary shares at an initial price of BD1.250 per ordinary share (the initial offering price).

If the final offering price is lower than the initial offering price, retail investors will have the option to receive a cash refund or additional ordinary shares. The final offering price will be announced on Nov. 8, 2010.

Gulf International Bank has been appointed as regional lead manager of the offering. The underwriters are National Bank of Bahrain, Gulf International Ban, Bahrain Islamic Bank and Al Salam Bank-Bahrain.