APM Terminals has become the first transport and logistics company to be listed on the Bahrain Bourse Stock Exchange following one of the most successful initial public offerings (IPOs) in Bahrain’s history.
The company was listed under the trading symbol ‘APMTB’ following a ceremony attended by His Excellency (H.E.) Zayed bin Rashid Alzayani – Minister of Industry, Commerce and Tourism – H.E. Rasheed Al Maraj – the Governor of the Central Bank of Bahrain – and H.E. Kamal; bin Ahmed – Minister of Transportation and Telecommunications.
The event was also attended by CEOs of other listed companies and officials of the Bahrain Bourse.
APMT’s IPO in November saw 18 million shares offered US $1.75 a share, approximately 20% of the company total shared capital.
Following institutional and retail oversubscription to the IPO, APMT’s share price closed at $1.99.
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APM Terminals’ shares will be traded for a duration of six months according to the procedures followed in the market before they are transferred to the regular market to be traded under the Services Sector.
Following the listing of APM Terminals, the sole operator of Bahrain’s Khalifa Bin Salman Port, the total number of listed companies on the Bahrain Bourse rose to 44.
Mark Hardiman, CEO of APM Terminals, had this to say: “This is a historic day as APM Terminals Bahrain has become the first transport and logistics company in the Kingdom to be listed on the Bahrain Bourse.
“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.”