The Bahrain Stock Exchange

The Bahrain Stock Exchange (BSE) presents investors with the opportunity to raise equity financing, provided that listing conditions are met.
The Central Bank of Bahrain (CBB) regulates and supervises Bahrain’s capital markets with its chief priority being to maintain a transparent, fair and orderly market by upholding and enforcing international standards and protecting the investor, thereby protecting Bahrain’s integrity and reputation as the region’s financial hub.
The CBB regulates and supervises all applications for the listing of securities and any other instruments offered to the general public, approving applications on the fulfillment of
requirements and disclosures.
The CBB also enforces international disclosure standards, in order to enhance the transparency in the marketplace, and supervises the stock exchange, the clearing, settlement, depository and custodial systems, brokerage firms and
market makers.


Listing Requirements for Domestic Companies

Local companies interested in listing their shares on the Exchange are required to comply with the following conditions, subject to Article (39) of the Exchange's Internal Regulations:

  •  The company must comply with the
    Commercial Companies Law (No. 21 of 2001)
  • For existing companies, the company should have been in existence for at least two years, and be able to supply published, audited financial statements for the two consecutive years prior to the submission date of the application
  • The paid-up capital of the company must not be less than BD 500,000, or the equivalent in any other currency, and the issued shares must not be less than 500,000 shares. At least 50% of the value of the issued shares must be paid-up
  • The number of registered shareholders in the company should not be less than 100
  • The rights and obligations of each class within each listed issue should be equal
  • The net worth (assets) of the company should exceed its paid-up capital by at least 20%
  • The total annual sales (turnover) should not be less than BD 500,000
  • The company should have realized profit in two successive years prior to the submission date of the application
  • The listed company is required to publish semi-annual financial statements
  • The issuer must publish annual audited financial statements within three months of the close of its financial year
  • The ordinary Annual General Meeting (AGM) must be held at least once a year within three months of the close of its financial year
  • The listed company must comply with the Listing Agreement
  • The listed company should maintain financial soundness in terms of assets, liquidity, balanced financial structure and efficient performance
  • The issuer must publish its financial statements in at least one local daily newspaper, prior to its shares being approved for trading on BSE
  • The price of the shares on the market should not be less than the paid-up percentage of the nominal value of each share
  • The size of trading in the company's shares shall not be less than the minimum limit prescribed by BSE
  • Any other conditions as stipulated by the board from time-to-time

Listing Requirements for Foreign Companies

  • The applicant company shall either be a public shareholding company, duly listed on the stock exchange in the country of  incorporation, or a closed company which has been established for at least three years prior to the date of application
  • The paid-up capital of the company must not be less than USD $10,000,000
  • The company should have maintained net profits from its principal activities for the last 3 years preceding the listing application
  • No restrictions on the transfer of the company's share ownership between the investors are imposed by the company's Articles of Association, or by the laws of the
    country of its incorporation.
  • The company's financial position must be sound
  • The number of shareholders in the company should not be less than 100
  • The company should issue and publish audited annual financial statements and un-audited (reviewed) semi-annual financial statements
  • The company should assign a representative office in Bahrain to undertake the transfer of share ownership, distribution of dividends, financial reports and other related issues, as and when required
  • The company must comply with the Listing Agreement signed with BSE
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