Skip to content
AllIPO
EN

BHB · Gulf

Bahrain Bourse

Listing requirements, segments and the practical points that matter for a company from the CIS, Central Asia or the Gulf.

Data checked: 6 November 2026
Location
Manama, Bahrain
Regulator
Central Bank of Bahrain (CBB)
Trading currency
BHD
Indicative timeline
Not specified

Listing segments

Main Board (Mainboard Market)

Minimum market capitalisation
Not specified
Minimum free float
10%
Track record
3 years
Profit required
No
Minimum shareholders
100
Lock-up
12 months

BHB Listing Rules (amended 17 March 2021): paid-up capital at least BHD 1,000,000 (about USD 2.66m); at least 100 shareholders who are not employees or associates, holding a free float of at least 10%; net profits in the last three years, or average net profits of about 10% of paid-up capital, whichever is less; the profit test does not apply to newly established issuers. Audited IFRS or AAOIFI statements if in existence for at least one year. A Listing Agent / Lead Manager is mandatory. Founders may not dispose of shares for 1 year from listing. Prospectus approved and registered by CBB. BHB review: initial review within 21 days, feedback within 7 days, final review within 14 days of resubmission.

Bahrain Investment Market (BIM)

Minimum market capitalisation
Not specified
Minimum free float
10%
Track record
Not specified
Profit required
No
Minimum shareholders
Not specified
Lock-up
24 months

BIM Rules (version 3.0, 7 March 2024): applicant must be a closed shareholding company in Bahrain or its equivalent abroad; minimum paid-up capital BHD 50,000 (about USD 133,000); no market cap requirement; sufficient working capital; free float of at least 10% maintained; may apply directly or through a BHB-approved Sponsor; notify BHB 6 months before a public offering; registered Bahraini closed companies may list without a Direct Public Offering. Founders locked up for 2 years from listing and must together hold at least 30% during that period. Transfer to the Main Board possible after 6 months.

Foreign issuers

Main Board primary listing requirements apply equally to Bahraini issuers and to foreign issuers seeking a secondary listing; a foreign issuer must provide home regulator approvals and be subject to the listing rules of its home market or primary exchange, and trades in BHD or USD. BIM rules apply to companies incorporated in Bahrain or elsewhere, which must be closed shareholding companies or the foreign equivalent. Foreign ownership limits are not set in the listing rules; a 3-year existence requirement for foreign companies was not found (3 years appears only in the Main Board profit test).

Recent changes

BIM Rules revised in March 2023 (new admission procedure) and March 2024 (capital prerequisite revamped to BHD 50,000). Main Board Listing Rules last amended 17 March 2021.

Strengths

  • Same rules for local and foreign issuers, trading in BHD or USD
  • BIM: BHD 50,000 capital, no market cap test, closed companies welcome
  • Profit test waived for newly established issuers on the Main Board

Watch-outs

  • Small and less liquid market than Saudi or UAE exchanges
  • BIM founders must keep 30% and are locked up for 2 years

Sources

  1. 01Bahrain Bourse Listing Rules (amended March 2021)primary source
  2. 02Bahrain Bourse Listing Rules (v2.0, 2019)primary source
  3. 03Bahrain Investment Market Rules 2024 (v3.0)primary source

Requirements change. Always confirm with the exchange and the regulator before making decisions.

All exchangesIPOs on BHB

Is this exchange right for your company?

We compare it with the alternatives on your numbers and tell you what to fix before you apply.

Information on this site is educational. It is not investment advice, an offer of securities or financial advice. Exchange requirements change; always check the primary sources. Full disclaimer