APM Terminals Bahrain to open IPO

APM Terminals BahrainAPM Terminals Bahrain plans to raise around BHD12m ($32m) through its planned initial public offering (IPO). This is the first IPO for a transport and logistics company in the Kingdom to list on the Bahrain Bourse. The listing forms part of the contractual agreement made when the port opened in 2009.

APM Terminals Bahrain will offer 18 million shares, equivalent to 20% of its issued share capital, at BHD0.66 per share. The net proceeds will be paid to its current shareholders pro-rata based on their shareholding. APM Terminals currently holds 80% of the shares and the remaining 20% of shares are held by YBA Kanoo Holdings of Bahrain. 

Commenting on the IPO, Mark Hardiman, CEO/Managing Director, APM Terminals Bahrain said, “This is a significant moment for APM Terminals Bahrain as we move forward to launch our IPO, with an opportunity for the local and wider regional community to invest in a successful public-private partnership and Bahrain’s only commercial port.”


The offer price of BHD 0.660 per share, equates to a price-to-earnings (P/E) ratio of 5.7x 2017’s net earnings of BHD 10.4 million. 

The offering will start on November 8 and will remain open until November 24.


APM Terminals Bahrain has an exclusive 25-year concession from the Bahrain Government to manage and operate Khalifa Bin Salman Port (KBSP). The concession, which commenced on 1 April 2009, is renewable with mutual consent of the company and the Bahrain Government.

The concession gives APM Terminals Bahrain exclusive rights to manage all of Bahrain’s container traffic and the majority of its general cargo traffic. It prohibits the Government from building and operating another port facility in Bahrain (other than private jetties or fishing harbours) until 1 April 2024. 

APM Terminals Bahrain stated the port currently has a container throughput capacity of 1 million TEUs per annum, with utilisation of around 40% in 2017. It claims there is potential to expand to 2.5 million TEUs per annum in the future.

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