Bahrain Clear announces first subscriber on eIPO platform

Manama, Dec. 5 (BNA): Bahrain Clear announced the name of the first shareholder, Sayed Mohamed Alawi Majeed, who has completed the subscription on the eIPO platform available on Bahrain Bourse website www.bahrainbourse.com. 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, Abdullah 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," he added.