Bahrain Clear Announces the First Subscriber on the eIPO Platform

Wednesday, December 5, 2018
Bahrain Clear announced the name of the first shareholder who has completed the subscription on the eIPO platform available on Bahrain Bourse website, ‘Sayed Mohamed Alawi Majeed’ in a ceremony held at Bahrain Clear’s premises in Bahrain Financial Harbour, with the presence of Mr. Abdulla Jaffar Abdin, the Senior Director of Operations at Bahrain Clear, and members of the executive management.

The eIPO platform was launched by Bahrain Clear in conjunction with the Initial Public Offering (IPO) of APM Terminals Bahrain, allowing investors to complete their subscription in APM Terminal Bahrain IPO through the eIPO online platform to provide a seamless and convenient mechanism for IPO subscription applications. In parallel, application forms were also received through the Receiving Bank & Participating Brokers.

On this occasion, Mr. Abdulla Jaffar Abdin, the Senior Director of Operations at Bahrain Clear said, “The launch of the eIPO platform comes in line with Bahrain Clear’s efforts aiming at facilitating the subscription process to investors, which in return will encourage enhanced retail participation in Bahrain Bourse.”

“This platform has proven its success to comprise 55% of total subscription applications and 90% of the volume of APM Terminals Bahrain IPO.” Mr. Abdulla added.

It is worth mentioning that Bahrain Clear is a wholly-owned subsidiary of Bahrain Bourse with a disclosed capital of 5 million Dinars, and a paid up capital of 1 million Dinars, licensed by the Central Bank of Bahrain as a clearing company providing post trading services to investors. Bahrain Clear offers a range of services including services of transactions depository, clearing, settlement, central registry and registration.