BHBNewsLetter Dec2018

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Issue 18 - DECEMBER 2018
APM TERMINALS BAHRAIN ANNOUNCES THE PROVISIONAL RESULTS AND ALLOTMENT
BASIS OF ITS INITIAL PUBLIC OFFERING (IPO) WITH AN OVERSUBSCRIPTION
Bahrain Bourse announced
conducting its first round
table discussion for this year with
the listed companies on Bahrain
Bourse on Monday 22 October
2018, with the attendance of
Mr. Abdulkareem Bucheery the
Chairman of Bahrain Bourse,
Shaikh Khalifa Bin Ebrahim Al
Khalifa the Chief Executive Officer
of the Bahrain Bourse and various
CEOs of listed companies. The
APM Terminals Bahrain’s BHD
11.880 million IPO was met with
strong demand from local and
regional institutions and retail
investors alike, resulting in an
oversubscribed offer with funded
applications totaling 6.8 X the
institutional offer size and 2.2 X
the retail offer size. An overall
oversubscription resulted from
funded applications 5.4 X the
offer size. These results reflect
the provisional reconciliation
of the data related to the
application forms received.
SICO BSC (c), a leading regional
asset manager, broker and
investment bank (licensed as a
BAHRAIN BOURSE MEETS CEOs OF LISTED COMPANIES
discussion addressed various topics
in relation to the development
of the capital market in general
and Bahrain Bourse in particular.
The discussion aims at offering a
platform of open discussion and
encourages exchange of ideas,
recommendations and opinions
on enhancing the capital market
in the Kingdom of Bahrain.
Furthermore, the discussion
aims at finding mechanisms
to enhanc e t he Bou r s e’s
performance in a way that serves
and benefits listed companies
on one hand, and contributes to
enriching investors’ experience on
the other hand. The discussion
also presented the opportunities
and challenges occurring in light
of the current economic changes
locally, regionally and globally.
The series of meetings will allow
the listed companies to address
various topics of interest, highlight
their view on enhancing the
market’s performance and other
relevant matters, as this meeting
comes in line with Bahrain
Bourse’s keenness to diversify the
c ommu n i c a t i on c h a nn e l s
wit h a l l rele v ant par t ies
especially listed companies.
conventional wholesale bank
by the Central Bank of Bahrain
(“CBB”), announced the successful
closing of the BHD 11.880
million initial public offering
(“IPO”) of APMTerminals Bahrain.
The transaction comprised an
offering of 18,000,000 shares
70% of which were allocated to
institutional investors (i.e., those
applying for over 100,000 shares)
while 30% of the shares have been
allocated to retail investors (i.e.,
those applying for up to 100,000
shares). The IPO generated total
demand of 97.4 million shares
or BHD 64.3 million between
both the institutional and retail
t r anches resu lt i ng i n an
oversubscription from funded
applications 5.4 X the offer size.
A total applications for 85.6
million shares, which trans-
lates into BHD 56.5 million, was
received through the institu-
tional tranche, while the retail
tranche received applications for a
total of 11.8 million shares, which
translates into BHD 7.8 million.
Funded applications received
totaled 6.8 X the offer size
pertaining to the institutional
tranche to be allotted on a pro
rata basis. Furthermore, the of-
fer also resulted in an oversub-
scription pertaining to the retail
tranche, having received funded
applications totaling 2.2 X the
offer size. The retail tranche
will be allotted a number of
shares that may be less than the
initial minimum retail allocation
up to (15,000 shares) for retail
applicants of (15,000 shares) or
less (as further detailed in the
IPO prospectus registered with
the CBB on 29 October 2018).
Following the successful public
offering, the ownership structure
of APM Terminals Bahrain is as
follows: APM Terminals BV (64%),
YBA Kanoo Holdings of Bah-
rain (16%), and IPO applicants
(20%). APM Terminals BV is the
company which operates a global
network of 74 operating ports
and terminal facilities and over
117 Inland Services operations
spread over 58 countries, is part
of the A.P Moller – Maersk group,
a global business headquartered
in Copenhagen, Denmark, with
activities in the transport and
l o g i s t i c s wh i c h i n c l ud e s
the biggest container ship
op e r a t o r i n t h e wo r l d .