MANAMA: There has been an overwhelming response to BD11.88million IPO of APM Terminal Bahrain so far and even prior to the launch there have been keen interest shown by the investors, says Najla Al Shirawi, the CEO of SICO.
“The pricing is very well received and this IPO going to be a resounding success,” Najla Al Shirawi, the CEO of SICO, on the sidelines of the launch of the IPO told The24X7News Bahrain (www.twentyfoursevennews.com).
SICO which is a mandated as a lead manager for the IPO is anticipating the move as a stimulus for local and international investors. “This IPO will be good to stir local and international investments,” SICO CEO said, while commenting on the attractive valuation of the IPO and the market opportunity that APM presents for both local and regional investors.
“The much-anticipated public offering of APM Terminals is a proxy on the Kingdom’s growing non-oil economy, it offers investors extremely attractive pricing and a dividend yield of 15.5% on the offer price based on dividends paid in 2017. Given the strong investor appetite that we have been witnessing we wanted to ensure that retail investors have equal access to the market opportunity by allocating up to 15,000 priority shares per retail applicant within their 30% allocation. We look forward to a highly-successful, fully-subscribed IPO in the weeks to come,” Najla Al Shirawi, the CEO of SICO, added.
