MANAMA: Bahrain Private Market, a new online platform offering share registrar services to closed shareholding companies, is now live.
This was announced by Bahrain Clear, a fully-owned subsidiary of Bahrain Bourse (BHB), in a statement yesterday with the clearing, settlement and depository services provider saying the platform aims at enabling companies to access, connect, manage and execute their transactions in an efficient and effective manner.
The market will offer a range of services for closed shareholding companies with a total annual fee of BD500 which includes change of partners (trading between existing shareholders), authorised signatories, directors and company type and mergers.
In addition, closed shareholding companies can transfer company ownership, increase/decrease in capital, preform pledging and unpledging transactions, discharge and 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.
The shares will be held in safe custody by Bahrain Clear to ensure the safe keeping and visibility to the company’s shareholders.
Bahrain Clear chief operating officer Abdulla Abdin said, “Bahrain Clear has been continuously seeking to offer value-added services to both investors and issuers. The new services that have been provided to public shareholding companies are now being offered to closed shareholding companies via Bahrain Private Market. With our long-standing experience in providing such services, we aim to provide an efficient and secure platform for closed shareholding companies.”
Plans to launch the platform were announced at the beginning of this month.
Since then, multiple webinars have been organised by Bahrain Clear to present the key benefits and services that will be provided through Bahrain Private Market as well as the process of accessing, connecting, managing and executing transactions on the platform.
The platform can be accessed at https://www.bahrainbourse.com/bahrain-private-market.
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