Khalifa Bin Salman Port operator APM Terminals has appointed SICO BSC, a prominent Bahraini investment bank, as its lead manager and underwriter for the company’s planned initial public offering (IPO). The IPO, which is expected to be launched in late October this year, will offer 20% of the company’s paid up capital to investors and will list it on the Bahrain Bourse.
The IPO is expected to give the company greater access to capital markets and enhance its profile through adherence to high standard of oversight and transparency. The strategy is designed to strengthen APM Terminals’ reputation as a leading multipurpose terminal and its potential for becoming a transhipment hub serving the growing upper Gulf market.
According to APM Terminals Bahrain’s chief executive, Mark Hardiman, “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 Upper Gulf ports and strong regulatory framework.”