18 million shares were offered to APM Terminals for subscription

ABM Bahrain Terminals, the exclusive operator of Khalifa Bin Salman Port, announced today the initial investment of 20% of the company's total capital, which corresponds to 18 million shares for a price of 660 wires per share. The company aims to raise 11.8 million KD of its public offering.
The IPO will be open to private and institutional investors from Bahrain and non-Bahrain from 8 to 24 November 2018. 70% of the initial public offering will be aimed at wholesalers who have requested more than 100,000 shares. The remaining 30% of the offer will be allocated to individual retail investors who have requested more than 100,000 shares of the offer.
The total IPM Terminals-Bahrain shares, which operates the port of Khalifa Bin Salman, will account for about 90 million shares, the remaining 20% ​​being offered at the IPO after reduction of IBM shares Terminals and group Yousuf Bin Ahmed Kanoo.
As part of the IPO plan, IBM Terminals will offer 18 million shares in the public offering, representing 20% ​​of the company's shares, while IBM Terminals will sell 16% of its stake from 80 % to 64% before the IPO. While Yousef Bin Ahmed Kanoo's share will decrease from 4% to 16% compared to the previous 20%.
Terminals International operates 74 world-class moorings and moorings and more than 117 shore-based facilities in 58 countries. The company belongs to the AB Müller-Maersk Group, the largest transport and logistics company of container containers from the world based in Copenhagen. Denmark.
Subscription open for 17 days
"The company's move to the IPO is an unprecedented step forward in the history of IBM Terminals Bahrain. The IPO is a valuable opportunity to invest in a successful partnership." between the public and private sectors and in the port, "said Mark Hardiman, CEO and General Manager of IBM Terminals Bahrain. The only commercial in Bahrain.
"Because it is the only commercial port of the Kingdom, the port of Khalifa Bin Salman plays a key role in the economic development of the country by facilitating trade flow flows by relying on the Practical expertise needed to achieve the highest standards of efficiency and competitiveness, "Hardiman said. International ".
"The company is very excited about this milestone and we look forward to the developments of IBM Terminals Bahrain in the next steps that will follow the listing of the company's shares in the market. local."
"The IPO Terminals Bahrain Initial Public Offering will commence on Thursday, November 8, 2018 and will last 17 days until November 24, 2018, during which potential investors will be able to apply for the IPO. the stock exchange websites, IBM Terminals Bahrain and SICO, the underwriter and the underwriter.
Share Allocation November 29
"Investors may obtain printed copies of the initial public offering and the application form from the 10 authorized branches of Ahli United Bank, as well as Bahrain Stock Exchange and IBM Terminals offices. Bahrain: The clients of the SICO and Bayt Global Investment Bank and BBK brokerage houses will make an investment request by contacting their brokers and the shares will be awarded on November 29, 2018.
10.4 million business profits in 2017
Commenting on the pricing mechanism, Najla Al Shirawi, managing director of SICO, which manages the IPO, said: "The price per share of 660 wires equals the dividend multiplier of 5.7 times the net profit of 2017, which reached 10.4 million BD.
"The IPO is expected to raise 11.8 million BD in the initial public offering." This IPO is the first of its kind for transport companies and logistics Kingdom and the first introduction of a company operating in this sector on the Bahrain Stock Exchange. "
Commenting on the value of the initial public offering and market opportunities offered by IBM Bahrain Terminals to local and regional investors, Al Shirawi said: "The long-awaited IPO of IBM, IBM Bahrain Terminals, will capitalize on the remarkable growth of the non-oil kingdom economy.
IPO of the logistics sector
She explained that the investment in the logistics sector represents an investment opportunity at a price to pay, in addition to a dividend income of up to 15.5% issuance price based on cash dividends for 2017.
"Investors are eager to invest in this offer, which is clear to us: we have ensured that investors have equal access to the market by allocating up to 15,000 shares to each candidate to subscribe to investors", said Shirawi. "We are hoping for a successful IPO with full coverage in the coming weeks."
December 9 stock exchange listing
On the date of listing of the company's shares on the Bahrain Stock Exchange, SICO's CEO said: "The shares of the company will be listed on the Bahrain Stock Exchange on Sunday, December 9 under the symbol APMTB. will be able to exchange the shares allocated to them by means of the subscription, they must open an account with one of the brokerage firms approved on the Bahrain Stock Exchange, if they do not have an account with one of these companies ".
Dividends for the year 2018
Al Shirawi said: "Investors who have been granted shares by way of subscription are entitled to participate in the dividends announced by the Company for the full financial year ending December 31, 2018." The company has also appointed a bank (SICO) to provide price stability services and the market industry from the start of trading the company's shares to the Bahrain Stock Exchange.