Tuesday 19, June 2018 by Kudakwashe

Bank ABC obtained CBB’s nod to appoint market maker

 

Bank ABC has appointed the Securities and Investment Company BSC (SICO) as the designated market maker as of 20 June 2018

Bank ABC has obtained the Central Bank of Bahrain’s (CBB) approval to appoint a market maker to enhance the liquidity of the Bank ABC’s share trading on the Bahrain Bourse.

In a statement, SICO has sole discretion to buy and sell a percentage of Bank ABC shares not exceeding one per cent of the total issued share capital on ABC’s behalf, thereby creating a more dynamic two-way market that will enhance the liquidity of the Bank’s shares for market participants.

The market making programme with SICO will be in effect for a period of 12 months following its establishment, enabling the bank to gauge the success of the arrangement.

This arrangement was also approved by the Bank’s shareholders during their Ordinary General Assembly meeting last March.

  

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