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– Subscription period from 8 to 24 November 2018
– Subscription is open to all, including Bahrainis and non-Bahrainis
..
Khaled al-Tayeb
ABM Bahrain Terminals, the exclusive operator of Khalifa Bin Salman Port, today announced the initial public offering of 18,000,000 shares of the company. The total number of shares issued represents 20% of the company's share capital. The subscription will be open to individuals and institutions, both Bahraini and non-Bahraini, from November 8, 2018.
SICO CEO Najla Al Shirawi said that IBM Terminals Bahrain was a joint venture between IBM Terminals International, based in The Hague, the Netherlands, at 80%, and Yousef Bin Ahmed Kanoo Holding in Bahrain. at 20%. In business and commerce. The company operates a global network of marinas including 74 ports and marinas and more than 117 ground handling operations in 58 countries. "
"The company is global and its activities are limited to the management of ports.It started operations in Bahrain in 2009 and has the right to operate and manage the only port in the Kingdom.
"The company has achieved high profits throughout its work period and the highest period of 2017, which distinguishes it from its IPO, and a constantly rising performance of 660 threads, a fair and attractive price. for investors.It was determined by the company's business and the franchise right of the port and by the lack of competition The only one in the kingdom, and will benefit from the growth of the non-oil sector. "
"The shares will be traded on December 9. The first IPO of IBM Terminals Bahrain is a long-awaited opportunity to capitalize on the remarkable growth of the Kingdom's non-oil economy. investment at a bargain price, 15.5% of the issue price on the basis of cash dividends for 2017.
"Given the strong desire of investors to invest in this IPO, which is clear to us, we have ensured that investors have an equal opportunity to enter the market by awarding up to 15,000 shares per applicant. to the underwriting of retail investors, within the percentage allocated to these investors.On the total size of the IPOs of 30%, we hope a successful IPO with full coverage in the coming weeks. "
Mark Hardiman, Managing Director and General Manager of IBM Terminals Bahrain, said, "The IPO is an unprecedented move in the history of IBM Bahrain Terminals. The IPO is a valuable opportunity to invest in a successful partnership. Between the public and private sectors and the only commercial port of Bahrain.
"As the Kingdom's only commercial port, the port of Khalifa Bin Salman plays a key role in the country's economic development by facilitating the flow of trade flows by building on the practical expertise needed to reach the highest standards of efficiency and competitiveness, in accordance with international standards. "
"We are very excited to take this important step forward and confidently anticipate the developments of IBM Terminals Bahrain in the next steps that will follow the listing of the company's shares in the local market. . "
"The stock price was set at 0.660 BD, which equates to a dividend multiplier of 5.7 times the net profit of 2014. The company is expected to raise, through the initial public offering to the company. 39, savings, The IPO is the first of its kind for the Kingdom's transport and logistics companies and the first listing of a company operating in this sector on the Bahrain Stock Exchange. "
"The attractive value of the initial public offering and market opportunities offered by IBM Bahrain Terminals to local and regional investors.
The initial public offering of IPM terminals will commence in Bahrain on November 8, 2018 and will last 17 days until November 24, 2018, during which potential investors may apply for the IPO. Copies of the Prospectus are also available electronically on the websites of the Bahrain Stock Exchange (www.bahrainbourse.com), IBM Terminals Bahrain (www.apmterminals.com/bahrainIPO) and SICO (www.sicobank). .
Printed copies of the application form and the application form may be obtained from the 10 authorized branches of Ahli United Bank: Manama, Seef Complex (Muharraq), Al Gudaibiya, Budaiya, Riffa, Sitra, Hamad City, Isa Town Complex In addition to the Bahrain Stock Exchange office and Bahrain's IBM Terminals office, clients of SICO's brokerage firms, Global Investment House and BBK can request an investment by contacting their intermediaries. The shares will be awarded later on November 29th.
Approximately 70% of the initial public offering will be allocated to wholesale investors (investors having requested more than 100,000 shares), the remaining 30% being intended for retail investors (investors having requested the purchase) . Less than or equal to 100,000 shares of the shares of the investment).
Immediately after the end of the subscription period, the shares of the Company will be listed on the Bahrain Stock Exchange and will begin trading on Sunday, December 9 under the symbol APMTB. In order to be able to exchange the shares allotted to them by subscription, they must open an account with one of the brokerage firms approved on the Bahrain Stock Exchange, in case they do not have an account at the company. 39, one of these companies. The investors to whom the shares were granted through the IPO are entitled to participate in the dividends declared by the Company for the financial year ended December 31, 2018. The Company has also instructed SICO to provide price stabilization and price stabilization services. market making Trading in the shares of the company started on the Bahrain Stock Exchange.
SICO is the IPO Manager, Underwriter and Market Maker appointed by the Company. During the subscription period. The Bahrain Stock Exchange will be the trading and trading market for the shares of the company, as well as Travers & Hamlins, Hassan Radhi and his associates.
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