Bahrain Bourse has announced today (December 9) the listing of APM Terminals Bahrain (APMT) under the trading symbol APMTB.
A ringing bell ceremony was held to mark the commencement of trading on APMT shares in the presence of Zayed bin Rashid Alzayani, Minister of Industry, Commerce, & Tourism and Minister in Charge of Bahrain Bourse, the Governor of the Central Bank of Bahrain Rasheed Al Maraj, Kamal bin Ahmed, Minister of Transportation and Telecommunications, along with CEOs of listed companies and officials of Bahrain Bourse.
Shaikh Khalifa Bin Ebrahim Al Khalifa, chief executive officer of Bahrain Bourse said: “We are pleased to welcome the listing of APMT, the exclusive manager and operator of Khalifa Bin Salman Port, on Bahrain Bourse. This listing will enrich the diversification of the sectors on Bahrain Bourse and widens the investment opportunities and horizon for investors.”
“The listing of APMT on Bahrain Bourse marks an important milestone towards achieving our strategic objectives in terms of attracting new issuers from fast growth economic sectors and expanding the Bourse’s investor base. APMT became the first IPO issuer listed on BHB to utilize Bahrain Clear’s newly developed eIPO platform, a sophisticated and efficient solution for online IPO subscription via a dedicated portal, which was able to capture 90 per cent of the subscriptions received, which includes eIPO & bIPO.”
Mark Hardiman, CEO/managing director, APM Terminals Bahrain said: “The results of our IPO have surpassed our expectations as it has been one of the most successful IPOs in Bahrain’s recent history in terms of investor participation with 97.4 million shares being applied for. This is a testament to the public’s trust in APM Terminals Bahrain in its efforts to continue leading Bahrain’s maritime sector towards further growth and development.”
Commenting on the IPO, Sico’s CEO, Najla Al-Shirawi said: “APMT’s IPO brings to market a key player in Bahrain’s logistics and supply chain industry and a proxy to the Kingdom’s economy and its growth prospects. We are particularly pleased to have been part of this landmark transaction that has generated strong investor demand on the local and regional level, and that falls in line with our commitment to contribute to the growth and development of Bahrain’s financial markets. I look forward to SICO’s participation in future transactions on the Bahrain Bourse and I wish the APMT team the best of luck as they join the ranks of publicly-listed companies.”
The trading of APMT Bahrain will be traded under the trading symbol (APMTB) in the IPO Market for a duration of six months according to the procedures followed in the market, and will then be transferred to the regular market to be traded under the Services Sector. Following the listing of APMT, the total number of listed companies at Bahrain Bourse rose to44 companies.
APMT is the exclusive manager and operator of Khalifa Bin Salman Port, the only general commercial port facility in Bahrain and handles all containerized cargo to and from Bahrain in addition to general cargo.
APMT completed in November2018 an Initial Public Offering (IPO), where 18 million shares were offered at BD0.660 ($1.74) per share representing 20 per cent of the company’s total issued share capital. The IPO was met with strong retail & institutional demand resulting in an oversubscribed offer with funded applications totalling 6.8 X the institutional offer size and 2.2 X the retail offer size.
An overall oversubscription resulted from funded applications 5.4 X the offer size. The share price of APMTB closed at BD0.765 at the end of the first trading session, increasing by 16 per cent above the offer price. – TradeArabia News Service
Send us your company’s news today and they could be featured on ABC’s Community News tommorow.
