MANAMA: APM Terminals, the operator of Khalifa Bin Salman Port, is seeking to change its status from a closed company to a public one with future plans including going public and raising funds through an IPO.
This was announced by the Minister of State for Information Affairs and the Official Spokesperson of the Government Sameera Ebrahim bin Rajab during post cabinet meeting briefing and said that the Cabinet discussed and approved the memorandum presented by the Minister of Transportation on the conversion of the APM Terminal into a public company.
The Ministry suggested setting a date for the Initial public offering (IPO) to convert the corporation, from a participating closed corporation to a participating open corporation, by the end of the year 2014.