Bahrain-listed Aluminium Bahrain (Alba) plans a cross-listing on the Saudi Exchange (Tadawul).

The move will be part of the next phase of the proposed business combination with segments of Saudi Arabian Mining Company’s (Maaden) aluminium strategic business unit.

“As part of the discussions on the non-binding agreement, Alba and Ma’aden discussed, among other things, the potential cross-listing of Alba on the Saudi Exchange,” the state-run Bahraini aluminium producer said in a statement.

While the companies will undertake due diligence, Alba said there is no assurance that these discussions would lead to a definitive agreement or a completed transaction.

The Saudi mining major Maaden is listed on Tadawul.

(Editing by Seban Scaria  seban.scaria@lseg.com)