Bahrain Bourse Unveils Listing of First Global FinTech Company on BIM - Sprinkle Holding BSC
Bahrain Bourse (BHB) announced on Thursday, 12th December 2019 the listing of the first company on Bahrain Investment Market (BIM) “Sprinkle Holding BSC (closed)” a specialized FinTech company, under the trading symbol SPKL. A ringing bell ceremony was held to mark the commencement of trading on SPKL shares in the presence of H.E. Zayed bin Rashid Alzayani, Minister of Industry, Commerce, & Tourism and Minister in Charge of Bahrain Bourse, H.E. Aymen bin Tawfeeq Almoayyed, Minister of Youth and Sports Affairs, along with Alexander Wallin and Tomas Wallin, CEO and Chairman of Sprinkle Holding, and senior officials of Bahrain Bourse and members of Almoayed Chambers, the Authorized Sponsor, along with various stakeholders.
On his part, Sh. Khalifa Bin Ebrahim Al Khalifa Chief Executive Officer of Bahrain Bourse commented stating: “We are proud that a global Fintech company has chosen the Kingdom of Bahrain as its hub and Bahrain Bourse as its preferred listing exchange, mainly driven by the relaxed regulatory framework that the Bahrain Investment Market aims to offer. Sprinkle Holding’s value proposition fits in well with the Kingdom’s strategy to position itself as a pioneering Fintech hub within the region. Sprinkle Holding is currently listing as a closed company, and aims to raise capital through public offering within the next two years.”
On his part, Alexander Wallin Chief Executive Officer of Sprinkle Holding said, “We are excited to work closely with Bahrain Bourse to be the first listed company on the Bahrain Investment Market and hope to become the trailblazer of the next generation companies to be listed on BIM. We see a bright future in Bahrain with the strong emphasis of Fintech and we wish to be a part of the movement which puts Bahrain in the forefront global Fintech for a long time to come.”
On their part, Maria Liasides, Chairperson of Almoayed Chambers, the Authorized Sponsor said, “We would like to congratulate Sprinkle Holding and Bahrain Bourse for this monumental listing, and are confident that this will pave the way for future listings and also create awareness of this unique platform introduced by Bahrain Bourse to facilitate economic growth in the SME sector. We are pleased and honored to be part of this unprecedented listing and wish all stakeholders great success in the future”.
Sprinkle Holding will be traded under the trading symbol (SPKL) on the BIM. Sprinkle Holding is a Bahrain-based entity with a global establishment of affiliates ranging from United States, Europe, and China. Going forward, these affiliates will become subsidiaries of Sprinkle Holding. Sprinkle Holding is a global financial technology company which simplifies capital markets all over the world.
Sprinkle Holding financial ecosystem consists of three core services: SprinkleBit, a global social network that lower the barriers of entry for retail investors with a free stock simulator that onboards, educates, and keeps users informed about the market. It is one of the few social trading networks which are compliant with US standards and is approved to operate in China. SprinkleBrokerage, a US based brokerage firm registered with SEC and member of FINRA, provides a state of the art online trading platform. SprinkleXchange, one of the first blockchain based stock exchanges in the world. It has a unique mix of public, private, and cryptocurrency markets, which all are settled using blockchain technology allowing it to trade 24/7 with fractional shares and distributed custody of assets.
It is worth noting that Bahrain Investment Market, an equity market designed for fast-growing companies seeking growth capital, was operationally launched in March 2017 with 6 Authorized Sponsors operating in the market. Authorized sponsors provide support and guidance services to companies interested in listing on the BIM to ensure that listing and disclosure requirements are met.
Source: Bahrain Bourse.