Wednesday March 16 2016
News Source: Global Exchanges
Focus: Other
Type: General
Country: Bahrain
Link: http://www.bahrainbourse.com/bhb/about_us/news_show.asp?value=1262
On 14th March 2016, Bahrain Bourse (BHB) has announced the creation of the Real Estate Investment Trusts (REITs) Market at Bahrain Bourse. In this market, REITs licensed by the Central Bank of Bahrain (CBB) can be listed and traded by investors in the secondary market in accordance with the general trading guidelines in BHB’s Rulebook.
Since the above announcement, the Guidelines on the Trading of Real Estate Investment Trusts (REITs) and Funds Instruments listed at Bahrain Bourse have been published. Trading in the REITs and Funds Instruments Market will be conducted during the trading session of BHB, from Sunday to Thursday between 9:30am and 1:00pm. According to the guidelines, investors can submit their orders to the brokers to enter them in the REITs and Funds Instruments Market through the Automated Trading System that will match the buy and sell orders in accordance with the principles for matching orders as per the “Matching Priority” Rule of BHB.
The minimum accepted order in the REITs and Funds Instruments Market is BD500 (Five Hundred Dinars) or its equivalent in the REITs currency. The pricing mechanism implemented in the REITs and Funds Market will depend on supply and demand, and the Net Asset Value (NAV) will be an indication to specify the value of the Trust. The daily price fluctuation (up or down) is limited to a maximum of 10% of the previous closing price, and the settlement day for the trades is two days following the trade date (T+2).
Click on the link above for further details.