ID :
657893
Wed, 04/19/2023 - 03:09
Auther :
BNA
Shortlink :
https://oananews.org//node/657893
The shortlink copeid

Bahrain Bourse announces listing of Montreal Motors on BIM

Manama, Apr. 18 (BNA): Bahrain Bourse (BHB) announced the listing of Montreal Motors BSC (closed) on Bahrain Investment Market (BIM).

Montreal Motors has joined the BIM market under the trading symbol ‘MONTREALBH’.

A ringing bell ceremony was held to mark the commencement of listing of ‘MONTREALBH’ shares in the presence of  Abdulkarim Ahmed Bucheery, Chairman of BHB,  CEO of BHB Shaikh Khalifa bin Ebrahim Al Khalifa, Montreal Motors Founder & Vice Chairman Ebrahim Al Shaikh, executive management of Bahrain Bourse, and senior representatives from the Central Bank of Bahrain.

"We would like to welcome the listing of Montreal Motors BSC (closed) on BIM which comes in line with the recent regulatory changes introduced on the BIM framework," Bahrain Bourse CEO said.

"We aim to attract a number of potential eligible companies that are ready to explore the next phase of their growth while being listed on the BIM. We believe that BIM is a natural fit for scale-ups and growth companies seeking to achieve their corporate ambitions."

Montreal Motors Founder & Vice Chairman said that achieving listing on the BIM will go a long way in supporting their expansion plans organically and geographically.

"It gives us a solid platform for growth and we are excited about taking the next step of our journey," he added.

Montreal Motors has successfully listed to support its expansion into the motor distribution business. Montreal Motors business models consists of 5 core services: Motors distribution and sales, after-market services, motor leasing, inbound and outbound logistics, and investment through a licensed crowdfunding platform. The company was established in 1994 and has more than 8 facilities across Bahrain.

Bahrain Bourse has recently introduced a series of regulatory changes to BIM aimed at supporting the growth and development of the market, enhance market attractiveness, and simplify and increase the efficiency of the admission process.

The regulatory changes introduced includes provisions to allow companies to file their listing application for Bahrain Investment Market through BHB directly without the mandatory requirement of appointing an authorized sponsor which potentially would further lower the cost of listing on BIM.

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