Montreal Motors has joined the BIM market under the trading symbol “MONTREALBH”.
A bell-ringing ceremony was held to mark the start of the listing of “Montreal” shares, in the presence of the CEO of the Bahrain Bourse, Sheikh Khalifa bin Ibrahim Al Khalifa, the founder of the Montreal Motors Company and Vice Chairman of the Board of Directors, Ebrahim Al-Sheikh, the executive management of the Bahrain Bourse, and senior representatives. from the Central Bank of Bahrain.
“We would like to welcome the listing of Montreal Motors B.S.C (Closed) in BIM which is in line with the recent regulatory changes made to the BIM framework,” said the CEO of Bahrain Bourse.
“We aim to attract a number of potentially qualified companies who are ready to explore the next phase of their growth while being included in BIM. We believe that BIM is a natural fit for expansion and growth companies seeking to realize their corporate ambitions.”
Founder and Vice President of Montreal Motors said that achieving inclusion in BIM will go a long way in supporting their expansion plans both organically and geographically.
“It gives us a solid foundation for growth and we are excited to take the next step in our journey,” he added.
Montreal Motors has successfully expanded into the automobile distribution business. Montreal Motors’ business models consist of 5 core services: engine distribution and sales, after-market services, vehicle leasing, inbound and outbound logistics, and investment through an authorized crowdfunding platform. The company was established in 1994 and has more than 8 facilities across Bahrain.
The Bahrain Bourse has recently introduced a series of regulatory changes to BIM with the aim of supporting market growth and development, enhancing market attractiveness, and streamlining and increasing the efficiency of the acceptance process.
The regulatory changes introduced include provisions to allow companies to apply for listing on the Bahrain Investment Market through BHB directly without the mandatory requirement to appoint a licensed sponsor which could lower the cost of listing on BIM.