APM Terminals Bahrain appoints underwriter for October IPO
APM Terminals Bahrain has appointed Sico BSC as the lead manager and underwriter for its initial public offering, to be launched in late October
APM Terminals Bahrain has appointed Sico BSC as the lead manager and underwriter for its initial public offering (IPO).
The exclusive operator of Bahrain’s Khalifa Bin Salman Port is expected to launch its IPO in late October 2018, offering 20% of the company’s paid-up capital to investors and listing on the Bahrain Bourse.
The appointment of Sico was announced by HE Eng Kamal bin Ahmed Mohammed on the sidelines of the Gateway Gulf Forum, a three-day event that opened yesterday.
According to state-run Bahrain News Agency (BNA), the listing and wider shareholder base will give the company access to capital markets, as well as enhancing its profile through adherence to the highest forms of oversight and transparency.
Commenting on the company’s planned IPO, APM Terminals Bahrain’s chief executive officer (CEO) Mark Hardiman said: "This IPO marks an important milestone in the company’s history and indicates the strength of Bahrain’s world class logistics industry.
“Bahrain punches well above its weight in this sector, thanks to its strategic location, superb regional connectivity, reduced travel times between the Upper Gulf ports, and strong regulatory framework."
Meanwhile, Sico CEO Najla Al Shirawi added: "We are proud to be playing such an important role in the IPO of one of the premier logistics providers in the region, with its strategic shareholders including global industry players.
“It represents an exciting new opportunity to invest in the Kingdom of Bahrain’s expanding logistics and infrastructure industries and will contribute to increased trading and liquidity on the Bahrain Bourse."