MANAMA: Bahrain Bourse (BHB) and Almoayed Chambers have signed an agreement to appoint Almoayed Chambers as an authorised sponsor on Bahrain Investment Market (BIM), an innovative equity market for growth companies in Bahrain and the wider Mena region.
The agreement was signed by BHB chief executive Shaikh Khalifa bin Ebrahim Al Khalifa and Almoayed Chambers chairman Aymen Tawfeeq Almoayed.
“We are pleased to appoint Almoayed Chambers as one of the authorised sponsors within the Bahrain Investment Market. The partnership with Almoayed Chambers supports Bahrain Bourse’s efforts to encourage and facilitate the listing of companies on BIM, and increases the options available for prospective companies interested in listing on this market,” Shaikh Khalifa said.
Mr Almoayed said: “The creation of the Bahrain Investment Market within the wholly self-regulated framework of Bahrain Bourse is a phenomenal achievement and exemplifies the positively disruptive and innovative vision and wisdom of Bahrain’s leadership. We are proud of the humble supportive role we played in its creation and look forward to opportunities to further aid the market and its members as authorised sponsors.”
Almoayed Chambers is a professional services firm that invests in solving the problems and concerns of its patrons and their commercial and social enterprises.
“We are completely focused on value creation, innovation and protection of our patron’s interests and only partner with patrons that share our values and have wholly aligned interests. Our chambers operate throughout a large spectrum of specialisations and spheres and through partnerships and arrangements with select guilds around the globe,” he said.
Bahrain Investment Market’s partnership with Almoayed Chambers follows similar tie-ups with well-known specialised advisory firms such as BDO Jawad Habib, Keypoint, KPMG and Sico. As per BIM rules, companies must appoint and retain a sponsor both pre and post listing. In return, the sponsor is responsible for providing companies the required support and guidance to fulfil the BIM admission and financial disclosure requirements, and ensuring all pre-listing requirements and post-listing documentation and disclosures are continuously met.
Bahrain Bourse operationally launched the Bahrain Investment Market in March 2017 to offer the region’s fast-growing companies an alternative cost- and time-effective means for raising capital.
The BIM has been launched in strategic partnership with Tamkeen to support businesses and enterprises to cover their costs associated with listing and appointing a sponsor.
The market features relaxed admission requirements and reduced financial disclosure rules, access to global investors, guidance services through authorised sponsors, a dedicated Tamkeen support programme, and other unique value-added benefits and features.
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