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19-11-18
Bahrain to sell stakes in 3 logistics firms
(MENAFN) Bahrain was announcing to be putting forth stakes in three firms specialized in logistics on its stock exchange for sale.
Bahraini transportation and telecommunications minister Kamal din Ahmed confirmed the stakes to be put on sale until 2020, as it aims to boost the revenue of the government.
The GCC state is seeking the sale of about 20 percent of the three companies: Bahrain Airport Services, Bahrain Duty Free, and the new airport terminal which is valued at USD1.1 billion.
The minister stated: "as the main shareholder in these companies, we hope the other shareholders agree and we float a small percentage of about 20% of the companies on the Bahrain Bourse."
Ahmed further added that the IPOs are guaranteed to help achieve more competition and transparency.
MENAFN1911201800450000ID1097715432
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