Following the successful oversubscription of APM Terminals Bahrain IPO, the operator of the Kingdom’s only commercial port, Khalifa bin Salman Port (KBSP), the company as a public listed entity, announced the appointment/election of six new Board of Directors.
The new Board of Directors include Mr. David Skov, Mr. Soren Jakobsen and Mr. Fawzi Ahmed Kanoo as Executive Directors.
In addition, Mr. Jesper Kjaedegaard shall serve as a Non-Executive Director, while Mr. Mohamed Bin Ebrahim Juma Alshroogi and Mr. Nadhem Saleh Al-Saleh have been appointed as Independent Directors.
This was announced at the company’s recently held Constitutive General Assembly (CGA), where the appointment of Executive and non-Executive Directors were declared based on the 10% voting rights under article 175 of commercial companies law and the Independent Directors elected by a secret ballot voting process.
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 is the first transport and logistics company in the Kingdom to list on the Bahrain Bourse with an oversubscription of 4.4x times the offer size.
The recent IPO is credited to be one of the most successful ones in Bahrain’s recent history, in terms of investor participation with 97.4 million shares being applied for.
Read More: APM Terminals Bahrain plans $32 Million IPO