IPO and Capital Increase

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IPO AND CAPITAL INCREASE

Our goal is to be the first and best choice of our customers and companies who want to sell their shares to the public or to increase their capital. We are utilizing our branches in all cities in the Kingdom, including human expertise and technical resources, to provide innovative and appropriate solutions to meet their needs and requirements, and provide alternative subscription channels (AlAhliATM, AlAhliOnline, AlAhliMobile and AlAhliPhone) in order to make the IPO process or Capital Increase conveniently.

General Policy

Subscription in the shares of joint-stock companies is limited to male or female individuals.
Customers of The Manama Bank (MB) can subscribe to the IPO and capital increase through all branches and alternative channels (AlAhliATM, AlAhliOnline, AlAhliMobile and AlAhliPhone).
To subscribe to the capital increase, the subscriber must be an eligible share holder of the company, either / non individuals, legal entity or companies.
Bank checks of non-MB customers are acceptable to increase the company's capital.
Individuals can subscribe through alternative channels (AlAhliATM, AlAhliOnline, AlAhliMobile and AlAhliPhone) directly, even if they don’t have a previous offering.
Divorcedor widowed Saudi women who want to subscribe are allowed to have affiliate (minor sons) / non in case she has a guardianship on them (legal documents are required to be attached, Certificate of divorce or death of the husband as well as a certificate of guardianship).
Foreign women married to are not entitled to subscribe (whether major or affiliate) even if she is added to the family card.
Regarding IPOs, a current account with MB is required and the subscription amount is to be paid thru the Manama Bank current account deduction of the main subscriber.
Subscriber is entitled to delegate "first-degree relative" (parents and children) to subscribe on behalf of him by legal power of attorney issued by the:

Notary Public for people residing within the Kingdom.
Embassy or Consulate in the country of residence of the subscriber living outside the Kingdom of Arabia.
Mandate includes subscription and will be deducted from their account.

Authorized agents are not entitled to subscribe on behalf of more than the number specified in the IPO terms and conditions of each company, and the approved terms and conditions of the subscription for each company.
Discount is from the account of the client, not the authorized agent.
Single subscription request is to be used in the case of offerings for the entire family members included in the family card for an equal number of shares.
In case of subscription to different numbers of shares, a separate application must be filled out for each subscriber, provided he or she has an account with MB.
Women can subscribe thru identity card, provided there is a civil registry number and printout of Civil Status.
Wives do not require authorization from their husbands for subscription on her behalf if she is added in the family card.
In the case of repeated IPO subscription by women, preferences are as follows:

Preference in all cases if woman is subscribed alone and canceled from the IPO of the father or spouse.

In case of married women subscribed with the husband and father, the preference for subscription is with the husband and subscription with the father is canceled from the IPO.
The subscriber shall not submit more than one subscription request at any branch of MB or to the banks involved in the IPO (whether it is a major or affiliate subscriber).
The subscriber shall not modify the information or cancel the order after acceptance from the bank in any way.
Documents required to be submitted with applications to subscribe through the branches are:

Original and copy of the identity card of the individual subscriber.
Original and copy of the family book to family members subscribers.
Original and copy of power of attorney for first-degree family members
Original and copy of certificate of guardianship (for orphans).
Original and copy of certificate of divorce papers (for the children of woman divorced from a non husband).
Original and copy of spouse's death certificate (for the children of woman widow of a non husband).
Original and copy of birth certificate (for the children of woman divorced or widowed from a non husband).

Stocks are registered in the name of the major subscriber, even if he appoints an authorized agent to the subscription on his behalf (as mentioned).
Use of legitimate agency is not acceptable except for children and parents only.
Subscriber is responsible to ensure the availability of sufficient amount in the recipient's account at the bank during the subscription period.
Affiliates cannot be added by internet services, telephone banking and ATM machines unless they already participated in previous IPOs, in which case these services cannot be used, but must subscribe by visiting one of the branches of MB and submit a new application for all affiliates.
Surplus Refund: excess will be refunded in full without any deductions or charges:

Customers of MB: through crediting the major subscriber account.
Subscribers by bank checks: through visiting one of the branches of the MB to receive the extra.

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Digital Bank

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in Customer Service

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Financial Services Group

Private, Decentralized,

Digital and Investment Bank.

West Tower Bahrain Financial Harbour,
King Faisal Hwy, Manama, Bahrain.

Contact Us

West Tower Bahrain Financial Harbour,

King Faisal Hwy, Manama, Bahrain.

Email: info@manamabank.com