DUBAI- Port operator APM Terminals Bahrain plans to raise almost 12 million Bahraini dinars ($32 million) through its planned initial public offering (IPO).
The company will offer 18 million shares, equivalent to 20 percent of its issued share capital, at 0.66 Bahraini dinars per share, it said in the IPO prospectus published on Monday.
APM Terminals Bahrain, which has operated in the country for 12 years, is part of the Netherlands-based group APM Terminals, which is itself part of the Maersk Group.
The offering will start on Nov. 8 and will remain open until Nov. 24. The company's shares will start trading on Dec. 9, according to the prospectus.
Bahrain's SICO is working as lead manager, underwriter and market maker for the planned transaction.
($1 = 0.3767 Bahraini dinars)
(Reporting by Saeed Azhar Writing by Davide Barbuscia Editing by Edmund Blair) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: email@example.com))