APM Terminals Bahrain IPO launch set

At an offer price set at 660 fils per share, APM Terminals Bahrain will commence the offering period for its IPO later this week. The exclusive operator of Bahrain’s Khalifa Bin Salman Port (KBSP), APM Terminals Bahrain has announced the initial public offering (IPO) of 18,000,000 of its shares equating to an offer size of BD 11,880,000.

Twenty percent of the company’s total issued share capital will be offered. The offering period is from Thursday to 24th of this month and is open to Bahraini and non-Bahraini corporate and individual investors. The IPO is structured with 70 percent of shares on offer allocated to institutional investors (i.e., those applying for over 100,000 shares) while 30pc of the shares have been allocated to retail investors (i.e., those applying for up to 100,000 shares).

Furthermore, retail investors will have a priority allocation within the 30pc for the first 15,000 shares applied for by each such retail investor. On December 9, 2018, the company’s shares will be listed and will commence trading on the Bahrain Bourse under the ticker symbol APMTB (investors who do not have an account with a broker at Bahrain Bourse should open an account to trade, but such account is not needed to apply for shares).

Investors will not be subject to any lock-in and can trade as soon as the shares are listed on Bahrain Bourse on December 9, 2018. The founding shareholders cannot sell shares for a period of one year from the listing date on Bahrain Bourse. The allotment of shares will be announced on 29 November 2018.