The Bahrain Bourse has made a concerted effort to simplify and streamline the application process for the Bahrain Investment Market. As it stands, companies can get listed in just a few steps.
STEP 1: Initial discussion with Bahrain Bourse (BHB)
Interested companies discuss their requirements and objectives with BHB. BHB answers the preliminary questions and provides guidance on the most appropriate route, as well as connect the interested companies with the authorized Sponsors (specialized advisory firms).
STEP 2: Appoint a Sponsor
The company appoints a sponsor (specialized advisory firm) who will be responsible for the admission process, including submission of necessary paperwork, follow-up with BHB, and ensuring adherence to the compliance obligations once listed.
STEP 3: Prepare & Submit Application Forms
With the help of the authorized sponsor (specialized advisory firm), the due diligence process is carried out and preparation of the necessary paperwork for BHB is conducted and submitted.
STEP 4: Receive Approval from BHB
Approval is provided for the applicant company for Direct Public Offering (if applicable) or listing only after all required documents are submitted.
STEP 5: Direct Public Offering Process (if applicable)
The Listing Applicant invites applications to subscribe for purchase of the stocks. The Direct Public Offering must be kept open for at least 10 trading days. The Listing Applicant then announces the outcome once the Direct Public Offering period closes as well as other required information.
STEP 6: Admission & Listing on BIM
After completing the Direct Public Offering process (if applicable), the Sponsor (specialized advisory firm) must submit to BHB the information required by BIM rules, which includes confirmation of the following:
- Issuance and depositing of shares in Bahrain Bourse's Central Securities Depository.
- Number of shareholders
- Number of issued share capital available for trading
- List of the Directors and Substantial Shareholders and their respective shareholdings