Seef Properties Bahrain IPO Opens Tomorrow
Subscriptions to the initial public offering (IPO) of Bahrain government’s shares in Seef Properties start tomorrow (April 26). Strong demand is expected from both individuals and institutions, the company said. The IPO marks the first time that the Bahrain government has introduced initiatives to encourage share ownership amongst the general Bahrain public.
Bahrainis who subscribe for a minimum 5,000 and a maximum of 50,000 ordinary shares are qualified to apply for the Retail Offering, which will allow them to benefit from the government’s incentive schemes. These include a discounted price of 110 fils and payment by instalments (50 per cent upon subscription and the remainder 12 months later).
The second offering, the Institutional Offering, is open to Bahraini and non-Bahraini individuals and institutions applying for a minimum of 51,000 and a maximum of 111,455,000 ordinary shares.
Shares are priced at 110 fils for the Retail Offering and 125 fils for the Institutional Offering. Bahraini applicants are able to apply for either the Retail Offering or the Institutional Offering, but not both.
The IPO subscription period will run till May 10.
Shaikh Ebrahim bin Khalifa Al-Khalifa, Undersecretary, Ministry of Finance, said: “Since we announced details of the IPO, we have seen massive interest across the Kingdom. We are looking forward to seeing strong demand over the next two weeks."
Applications for shares in Seef Properties will be accepted during the subscription period at designated branches of BBK and Bahrain Islamic Bank. Copies of the prospectus and applications forms will be available for collection from Securities & Investment Company (SICO), BBK, Bahrain Islamic Bank and KPMG Fakhro. The prospectus, mini prospectus and sample subscription application forms can also be downloaded from the website www.seefipo.com from April 26. - (TradeArabia News Service)
Bahrainis who subscribe for a minimum 5,000 and a maximum of 50,000 ordinary shares are qualified to apply for the Retail Offering, which will allow them to benefit from the government’s incentive schemes. These include a discounted price of 110 fils and payment by instalments (50 per cent upon subscription and the remainder 12 months later).
The second offering, the Institutional Offering, is open to Bahraini and non-Bahraini individuals and institutions applying for a minimum of 51,000 and a maximum of 111,455,000 ordinary shares.
Shares are priced at 110 fils for the Retail Offering and 125 fils for the Institutional Offering. Bahraini applicants are able to apply for either the Retail Offering or the Institutional Offering, but not both.
The IPO subscription period will run till May 10.
Shaikh Ebrahim bin Khalifa Al-Khalifa, Undersecretary, Ministry of Finance, said: “Since we announced details of the IPO, we have seen massive interest across the Kingdom. We are looking forward to seeing strong demand over the next two weeks."
Applications for shares in Seef Properties will be accepted during the subscription period at designated branches of BBK and Bahrain Islamic Bank. Copies of the prospectus and applications forms will be available for collection from Securities & Investment Company (SICO), BBK, Bahrain Islamic Bank and KPMG Fakhro. The prospectus, mini prospectus and sample subscription application forms can also be downloaded from the website www.seefipo.com from April 26. - (TradeArabia News Service)
posted by bizzwhizz at 7:56 PM
0 Comments:
Post a Comment
<< Home