Officials from Bahrain Bourse & Bahrain Private Market during the launching function.
Bahrain Clear, a fully owned subsidiary of Bahrain Bourse, has launched Bahrain Private Market, a new comprehensive platform that will provide a full suite of bespoke services for closed shareholding companies.
The new platform aims to offer a full suite of bespoke share registrar services in a secure and electronic format in accordance with issued Law No. (09) of 2022.
According to the statement, “The services will be provided by Bahrain Clear effective as of 18th August 2022. “
Shaikh Khalifa bin Ebrahim Al Khalifa CEO – Bahrain Bourse VC & MD – Bahrain Clear
“At Bahrain Clear, we are utilizing our expertise to further support the growth of private market infrastructures and foster innovation. The launch of Bahrain Private Market will provide a more transparent and efficient offering for closed shareholding companies, providing unique opportunities in the private company secondary trading market. The platform will serve as a unique one-stop-shop for closed shareholding companies, which aims to provide a range of services and tailored solutions, as well as greater flexibility with the opportunity to trade shares between existing shareholders. The launch of Bahrain Private Market aims to capitalize on the technology-driven operational efficiencies of Bahrain Clear to further expand services to encompass both public and private shareholding companies. Joining Bahrain Private Market aims to prepare closed Shareholding companies to kick-start their journey towards public capital markets and expose them to the overall exchange ecosystem.”
Bahrain Private Market will offer a range of services for closed shareholding companies with a total annual fee of $1,324 (BD 500) which includes the change of partners (trading between existing shareholders), authorized signatories, directors, and company type and mergers.
“In addition, closed shareholding companies can transfer company ownership, increase/decrease in capital, perform pledging and unpledging transactions, discharge & lifting, and judicial custodianship. The platform also provides for additional add-on services such as AGM management services (physical and eAGM), cash dividend distributions, share options, and auction services, eVoting, and consolidated statements,” as per the statement.
Furthermore, the platform will enable closed shareholding companies to access, connect, manage and execute their transactions efficiently and effectively.
Bahrain Clear
Bahrain Clear is licensed by the Central Bank of Bahrain as a ‘Clearing House and Central Depository’ offering post-trade services to investors. Bahrain Clear’s service offering includes related services of securities transactions depository, clearing, settlement, central registry, and registration.
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