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Bahrain port operator says IPO to close on November 24

Monday, 19 November 2018 | 20:00

Potential investors have until November 24 to subscribe in the initial public offering (IPO) of APM Terminals Bahrain, which operates the kingdom’s only commercial port, Khalifa Bin Salman Port (KBSP).

The IPO offers at BD0.660 per share for a total of 20 percent of the company’s issued share capital, a statement said.

With days left until the application deadline, potential investors can continue to subscribe their interest via the 10 approved branches of Ahli United Bank in Manama, Seef Mall (Muharraq), Gudaibiya, Riffa, Sitra, Budaiya, Hamad Town, Isa Town Mall, Exhibition road, Mercado Mall (Saar) as well as from Bahrain’s bourse and APM Terminals Bahrain.

APM Terminals Bahrain is offering Bahraini and non-Bahraini investors an opportunity to invest in the IPO which is valued at BD11,880,000, comprising 18,000,000 shares. It is structured with 70 percent of the shares on offer allocated to institutional investors (over 100,000 shares) while 30 percent of the shares will be allocated to retail investors (up to 100,000 shares).

A first for a transport and logistics company in the kingdom to list on the Bahrain bourse, the results of IPO applications will be announced on November 26 with the shares subsequently allotted to the investors on November 29.

APM Terminals Bahrain is a joint venture between Netherlands-based APM Terminals International (80 percent) and YBA Kanoo Holdings of Bahrain (20 percent).

The company, which operates a global network of 74 operating ports and terminal facilities and over 117 Inland Services operations spread over 58 countries, is part of the AP Moller – Maersk group.
Source: Arabian Business

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