BHBNewsLetter Dec2018

6 / 16

6
Issue 18 - DECEMBER 2018
BAHRAIN CLEAR AND MUSCAT CLEARING & DEPOSITORY SIGN A
COOPERATION AGREEMENT TO EASE INVESTOR ACCESS DURING IPOs
BAHRAIN CLEAR ANNOUNCES THE FIRST SUBSCRIBER ON THE eIPO PLATFORM
Bahrain Clear and Muscat Clearing
& Depository signed a Cooperation
Agreement on Monday 5th No-
vember 2018 at Muscat Clearing &
Depository’s premises in Muscat,
Sultanate of Oman. The Coop-
eration Agreement was signed
by Shaikh Khalifa Bin Ebrahim
Al Khalifa Vice Chairman and
Bahrain Clear announced the
name of the first shareholder
who h a s c omp l e t e d t h e
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 Ter-
minal Bahrain IPO through the
eIPO online platform to provide a
s e aml e s s and c onv en i ent
mechanism for IPO subscription
appl i c at i ons . In p ar a l l e l,
application forms were also
received through the Receiving
Bank & Participating Brokers.
Managing Director of Bahrain
Clear, and Mr. Ahmed Bin Saleh
Bin Ahmed Al Marhoon, Chairman
of Muscat Clearing & Depository
along with other officials from
Bahrain Clear and Muscat
C l e a r i n g & De p o s i t o r y.
The Cooperation Agreement aims
at strengthening joint relations and
encourages exchange of expertise
between Bahrain Clear and Muscat
Clearing & Depository, which
aims to ease investor access and
subscriptions in IPOs in both
markets through the respective
clearing houses. In addition,
the Cooperation Agreement
paves the way to establish a
solid base to develop various aspects
of cooperation between both
companies, which in return will
serve stakeholders and other
relevant parties in the capital
market of the Kingdom of Bahrain
and Su lt anate of Oman .