About APM Terminals |
APM Terminals Bahrain B.S.C(c)(the “Company”) is a joint-venture between Netherlands-based APM Terminals International BV (80%) and YBA Kanoo Holdings of Bahrain (20%). The Company forms part of the Netherlands based APM Terminals B.V., a global leader in the management and operation of ports and inland services and is part of the A.P Moller – Maersk group, a global business headquartered in Copenhagen, Denmark, with activities in the transport and logistics sectors and amongst the largest container ship operators in the world. The Company has an exclusive 25 year concession from the Bahrain Government to manage and operate Khalifa Bin Salman Port (“KBSP“) effective from 1st April 2009. This Concession is renewable with mutual consent of the Company and the Bahrain Government. As of 30th June 2018, the Company directly employs 486 staff members in Bahrain and currently handles approximately 400,000 twenty foot equivalent units (“TEUs”) of containers and 1.2 million freight tonnes of general cargo per year. KBSP is the only container port in the Kingdom of Bahrain. |
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What services does the Company offer? |
The Company offers a number of services namely processing container cargo, general cargo, and marine services such as ship pilotage. |
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What is the Offer? |
The Company is offering 20% of its existing shares in an initial public offer (IPO) between 8th November and 24th November 2018. The offer is open to Bahrainis and Non-Bahrainis (except US Citizens). Investors can obtain application forms and the Company’s IPO prospectus from select branches of Ahli United Bank B.S.C. in Bahrain. The prospectus is also available on the Company’s website on www.apmterminals.com/BahrainIPO. |
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What is the Offer Price and Minimum Subscription? |
The Offer Price is BD 0.660 per share and there is no minimum subscription. |
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How do I apply for shares? |
Once you have read and understood the prospectus, complete the application form (available at select branches of Ahli United Bank in Bahrain) and submit it together at one of Ahli United Bank’s participating branches. There are certain documents that need to be attached such as copies of IDs (originals to be presented at the branch for verification) as well as payment by either Manager’s cheque or wire transfer and other documents as listed in the prospectus. |
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How many shares are being offered? |
The Company’s shareholders are selling 18,000,000 equivalent to 20% of the Company’s total 90,000,000. |
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What was the dividend paid by the Company in 2017? |
The Company paid a dividend of around BD 0.102 per share, equivalent to 15.5% of the BD 0.660 Offer Price. The Offer Price equates to 5.7 times the Company’s 2017 earnings per share. |
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Which Ahli United Bank Branches can I apply for shares at? |
The Ahli United Bank branches that are participating in this IPO include the Manama Branch, Muharraq Bbranch, Gudaibiya Branch, Budaiya Branch, Riffa Branch, Sitra Branch, Isa Town Mall Branch, Exhibition Road Branch and Mercado Mall (Saar) Branch, in addtion to Bahrain Bourse Desk & APM Terminals Desk. Visit our website www.apmterminals.com/bahrainIPO for location address. |
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Do I need an account with a broker or Ahli United Bank to apply for shares? |
No. An account with a Bahrain Bourse registered broker is only required when and if you wish to sell the shares or to buy additional shares after the IPO. |
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What is the current IPO timeline? |
Application opening date: Thursday 8 November, 2018 |
Application closing date: Saturday 24 November, 2018 |
Allotment date: Thursday 29 November, 2018 |
Distribution of refunds date: Monday 3 December, 2018 |
Commencement of trading on Bahrain Bourse: Sunday 9 December, 2018 |
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Visit one of Ahli United Bank’s participating branches or www.apmterminals.com/bahrainIPO for more information. |
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The Central Bank of Bahrain and Bahrain Bourse assume no responsibility for the accuracy and completeness of the statements and information contained in this document and expressly disclaim any liability whatsoever for any loss, howsoever arising, from reliance upon the whole or any part of the contents of this document. There are certain risks relating to a decision to acquire the offer shares including the potential to lose the entire amount invested. If you are in doubt as to investing in the offer shares you should consult your legal, financial, tax or other professional adviser. This document is not an offering document and investors should not subscribe for the offered shares except on the basis of the information contained in the IPO prospectus approved by the CBB and registered on 29th October 2018. |
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