Bahrain port operator announces move as it starts new era as a public listed entity
APM Terminals Bahrain, the operator of the kingdom’s only commercial port, Khalifa bin Salman Port, has announced the appointment of six new directors as the company starts a new era as a public listed entity.
Following the successful oversubscription of its IPO, the new board of directors include David Skov, Soren Jakobsen and Fawzi Ahmed Kanoo as executive directors.
In addition, Jesper Kjaedegaard will serve as a non-executive director, while Mohamed Bin Ebrahim Juma Alshroogi and Nadhem Saleh Al-Saleh have been appointed as independent directors.
The company said in a statement that the board of directors will "play an integral role in the future by providing guidance where required to improve the overall business performance of APM Terminals Bahrain and to ensure that Khalifa Bin Salman Port continues to be a major contributor of Bahrain’s economic development".
APM Terminals Bahrain was the first transport and logistics company in the kingdom to list on the Bahrain Bourse with an oversubscription of more than four times the offer size.
The recent IPO is credited to be one of the most successful in Bahrain’s recent history, in terms of investor participation with 97.4 million shares being applied for.