APM Terminals Bahrain, the exclusive operator of Bahrain’s Khalifa Bin Salman Port (KBSP), has announced the initial public offering (IPO) of 18,000,000 of its shares. The IPO, which will offer 20% of the company’s total issued share capital, is now open to Bahraini and non-Bahraini corporate and individual investors. It started last Nov. 8.

Commenting on the IPO, Mark Hardiman, CEO/Managing Director, APM Terminals Bahrain, said “today is a significant moment for APM Terminals Bahrain as we move forward to launch our IPO, with an opportunity to invest in a successful public-private partnership and Bahrain’s only commercial port.”

“Being the only commercial port, KBSP plays a vital role in the economic development of the Kingdom of Bahrain by facilitating smooth trade flows, which has been possible with APM Terminals bringing in the required expertise, competitiveness and operational excellence as per international standards.”

“We are excited about the IPO and look forward with confidence to our next stage of growth for APM Terminals Bahrain as a publicly listed company,” he added further.

APM Terminals Bahrain is a joint-venture between Netherlands-based APM Terminals International BV (80%) and YBA Kanoo Holdings of Bahrain (20%), a leading diversified regional business group. 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 A.P Moller – Maersk group, a global business headquartered in Copenhagen, Denmark, with activities in the transport and logistics which includes the biggest container ship operator in the world.

The APM Terminals Bahrain IPO commenced last Nov. 8 and will be open for a period of 17 days until Nov. 24 during which potential investors can submit their applications. The prospectus of APM Terminals Bahrain’s IPO is electronically available on the websites of Bahrain Bourse (www.bahrainbourse.com) and the Company (www.apmterminals.com/bahrainIPO) as well as SICO (www.sicobank.com).

IPO Application forms and printed copies of the prospectus can be collected from the 10 approved branches of Ahli United Bank B.S.C. (AUB) in Bahrain, in Manama, Seef Mall (Muharraq), Gudaibiya, Riffa, Sitra, Budaiya, Hamad Town, Isa Town Mall, Exhibition road, Mercado Mall (Saar); as well as from Bahrain Bourse and APM Terminals Bahrain. Furthermore, clients of the brokerage units of any of SICO BSC(c), AUB, Global Investment House BSC or BBK BSC can also apply for shares through their brokers. Shares will subsequently be allotted on November 29th.

The IPO is structured with 70% of the shares on offer allocated to institutional investors (i.e., those applying for over 100,000 shares) while 30% of the shares have been allocated to retail investors (i.e., those applying for up to 100,000 shares).

Immediately following the IPO, on Dec. 9, the company’s shares will be listed and will commence trading on the Bahrain Bourse under the ticker symbol APMTB. All applicants that have been allocated shares in the IPO are then eligible to trade by opening an account with a Bahrain Bourse registered brokerage if they do not already have one. Furthermore, applicants allotted shares in the IPO will be eligible to any dividends distributed by the company for the full year ended 31 December 2018. The company has also appointed SICO to provide price stabilization and market making services from the start of trading on the Bahrain Bourse. — SG