SICO BSC (c), a leading regional asset manager, broker, market maker, and investment bank (licensed as a wholesale bank by the CBB), announces the completion of a key milestone of its advisory to Al Jazeera Tourism Company (AJTC) on the execution of a sale and purchase agreement for 100% of Novotel Al Dana Resort in Bahrain to Gulf Hotels Group.

Bahrain Family Leisure Company B.S.C (BFLC) and DGC Hospitality & Partners, the food and beverage investment arm of Dividend Gate Capital (DGC) have signed an MOU in October 2022 for a potential M&A transaction between the two companies. SICO BSC (c), a leading regional asset manager, broker, market maker and investment bank (licensed as a wholesale bank by the CBB), has been appointed as advisor to BFLC on the M&A deal. Grant Thornton has been appointed as the advisor to DGC Hospitality. The two leading players in Bahrain’s food & beverage (F&B) and hospitality sector have signed an MOU to explore the possibility of a potential consolidation between the companies, which would result in a powerful market player with improved efficiencies and an increased market share.

SICO BSC (c), a leading regional asset manager, broker, and investment bank (licensed as a wholesale bank by the CBB), announced today that it has maintained its position as the Number One Broker on the Bahrain Bourse (BHB) for the 24th consecutive year, with a market share of 50.89%.

SICO BSC (c), a leading regional asset manager, broker, and investment bank (licensed as a wholesale bank by the CBB), has been recognized for the exemplary performance of its asset management and brokerage teams by the Global Investor Group MENA Awards 2022. SICO was named MENA ’s Best Sukuk Manager, as well as Bahrain’s Asset Manager and Broker of the Year.

SICO BSC (c), a leading regional asset manager, broker, market maker, and investment bank licensed as a conventional wholesale bank by the Central Bank of Bahrain “CBB”, published its second annual investor return assessment survey, offering an inside look into the economic and return expectations of investors across the GCC.

SICO BSC (c), a leading regional asset manager, broker, market maker and investment bank (licensed as a wholesale bank by the CBB), announced today that SICO Top-20, its equally weighted diversified GCC Equities portfolio, has generated a cumulative return of 152% since its launch in November 2017.

On a quarterly basis, SICO recorded a consolidated net profit attributable to shareholders amounting to BD 336 thousand (USD 891 thousand) in the third quarter of 2022 compared to BD 871 thousand (USD 2.3 million) recorded in the same quarter last year, a 61% year-on-year decline. A consistently turbulent global financial market – where for the third consecutive quarter equities and bonds continued to slide and registered historical negative performance – had negatively impacted investment income during the quarter. Earnings per share (EPS) were 0.80 Bahraini fils in the third quarter of the year compared to 2.07 Bahraini fils in the third quarter of 2021. SICO reported a total comprehensive income of BD 183 thousand (USD 485 thousand) for third quarter 2022 compared a total comprehensive income of BD 816 thousand (USD 2.16 million) booked in the same quarter last year, representing a 78% decline.

SICO BSC (c), a leading regional asset manager, broker, market maker and investment bank (licensed as a wholesale bank by the CBB), announced today that it has acquired the remaining 27.29% stake held by Bank Muscat in SICO Capital, a Saudi based full-fledged capital markets services provider.

SICO shared insights into Oman’s current economic climate in a report analyzing progress in achieving targets set forth in Oman’s tenth five-year fiscal and economic plan covering 2021- 2025, including debt management, fiscal reforms, and attracting FDI.