Bahrain Bourse (BHB) announced that as of Sunday, 26th of April 2020, and according to the invitation announced by the Central Bank of Bahrain (CBB), Bahraini and Non-Bahraini investors can directly subscribe through the primary market of BHB in the Government Development Bond Issue 20 (BHD 300 million) that has been issued by the CBB on behalf of the Government of Bahrain by executing their orders through registered brokers at Bahrain Bourse. Thereafter, investors will be able to trade the Bond on the secondary market at BHB once listed on BHB, which is expected to be on the 17th of May 2020.
Bahrain Bourse specified that the subscription period through the registered brokers is effective on Sunday the 26th of April 2020 starting from 10.00 AM until Wednesday 29th of April 2020. The subscription will be open on Sunday until Tuesday from 10:00 AM until 1:00 PM and on Wednesday from 10:00 AM until 11:00 AM. Minimum subscription size is 500 bond per subscriber. Allocation will be on the basis of the first 10,000 of bonds for each subscriber and the remaining quantity will be allocated on a pro-rata basis.
The BHD 300 million Bond issued at a par value of BHD 1 each on the 3rd of May 2020 for a period of 3 years maturing on the 3rd of May 2023. The annual fixed return on these securities is 6.00%, and will be paid bi-annually on 3rd of November and 3rd of May every year throughout the period of this issue.