APM Terminals plans IPO in Bahrain

APM Terminals plans IPO in Bahrain

APM Terminals is planning to raise around BHD12m ($32m) for its Bahrain unit through an IPO on the Bahrain Bourse.

It will be the first IPO for a transport and logistics company on the stock exchange.

APM Terminals currently holds 80% of the shares and the remaining 20% of shares are held by local business group YBA Kanoo Holdings.

“This is a significant moment for APM Terminals Bahrain as we move forward to launch our IPO, with an opportunity for the local and wider regional community to invest in a successful public-private partnership and Bahrain’s only commercial port,” said Mark Hardiman, CEO of APM Terminals Bahrain.

The offering will start on November 8 and will remain open until November 24.

APM Terminals Bahrain has an exclusive 25-year concession from the Bahrain government to manage and operate Khalifa Bin Salman Port. The concession, which commenced on 1 April 2009, is renewable with mutual consent of the company and the Bahrain government.

The port currently has a container throughput capacity of 1m teu per annum, with utilisation of around 40% in 2017.

For future developments, APM Terminals Bahrain expects benefit from a number of internal and external initiatives, including ongoing discussions with feeder vessels to service the areas of the upper Gulf region. The port is also keen to develop preferred transhipment access to upper Gulf states including Iraq and Kuwait.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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