Bahrain Clear, a subsidiary of Bahrain Bourse, has introduced a new platform for closed shareholding companies.
Bahrain Private Market will provide share registrar services in electronic format with shares held in custody by Bahrain Clear.
Companies using the service will pay an annual fee of BD500 (US$1,326), which includes a change of partners, authorised signatories, directors, and company type and mergers.
According to Bahrain Bourse’s chief executive and vice chairman and managing director of Bahrain Clear, Shaikh Khalifa Bin Ebrahim Al Khalifa, the launch of the platform is a demonstration of the group’s optimism about the “evolution” of private markets.
“The launch of Bahrain Private Market will provide a more transparent and efficient offering for closed shareholding companies, providing unique opportunities in the private company secondary trading market,” he said.
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