APM Terminals Bahrain announces its $31m Initial Public Offering (IPO)

The IPO, which will offer 20 percent of the total issued share capital, will be open to Bahraini and non-Bahraini corporate and individual investors.
Bahrain, APM Terminals, Ipo, Port operator, Container port

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APM Terminals Bahrain, the exclusive operator of Bahrain’s Khalifa Bin Salman Port (KBSP), has announced an initial public offering (IPO) of 18,000,000 of its shares, valued at around US $31-million.

The IPO, which will offer 20% of the company’s total issued share capital, will be open to Bahraini and non-Bahraini corporate and individual investors, starting November 8th, 2018. 

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“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,” said Mark Hardiman, CEO and MD, APM Terminals Bahrain.

“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,” he added.

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 operates a global network of 74 operating ports and terminal facilities and over 117 Inland Services operations spread over 58 countries. It is part of the A.P Moller – Maersk group, a global business headquartered in Copenhagen, Denmark, with activities in transport and logistics which includes the biggest container ship operator in the world. 

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The offer shares are priced at BHD 0.660 per share, equating to a price-to-earnings (P/E) ratio of 5.7x 2017’s net earnings of BHD 10.4 million. The IPO stands to raise BHD 11,880,000, in what is the first IPO for a transport and logistics company in the Kingdom to list on the Bahrain Bourse.

The APM Terminals Bahrain IPO offering will commence on November 8th and will be open for a period of 17 days until November 24th 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). 

Immediately following the IPO, on December 9th, 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.