SICO BSC (c) a leading regional asset manager, broker, and investment bank with a direct presence in Bahrain, Saudi Arabia, and the UAE, announced today an expanded product suite at Gateway Gulf 2024. The new offerings include two Bahrain-domiciled funds: a USD 100 million global equities fund, a USD 50 million Turkish Shariah opportunities fund, as well as an upcoming USD 70 million IPO in the food and beverage sector and a USD 30 million shariah compliant securitization fund.

SICO BSC (c), a leading regional asset manager, broker, and investment bank, with direct presence in Bahrain, Saudi Arabia, and the UAE, is appointed as co-lead bank by Lulu Retail on their ongoing IPO and proposed listing on the Abu Dhabi Securities Exchange (ADX). Lulu Retail runs one of the Middle East's biggest hypermarket chains with approximately 1.3 million square meters of total selling space.

SICO BSC (c), a leading regional asset manager, broker, and investment bank with presence in Bahrain, Saudi Arabia, and the UAE, announced today that it has officially become a signatory to the Women’s Empowerment Principles (WEPs), an initiative established by UN Women and the UN Global Compact to promote gender equality and empower women in the workplace, marketplace, and community.

SICO BSC (c), a leading regional asset manager, broker, and investment bank with presence in Bahrain, Saudi Arabia, and the UAE, announced today the appointment of Noora Janahi as Group Chief Legal Officer, effective October 6th, 2024. Noora brings over 15 years of extensive legal experience in investment banking services, corporate law, and offering legal services in banking and finance. She has orchestrated numerous major transactions in Bahrain, including mergers and acquisitions and public and private capital markets transactions.

SICO BSC (c), a leading regional asset manager, broker, and investment bank with presence in Bahrain, Saudi Arabia, and the UAE, announced today its recognition as Best Securities House in Bahrain 2024 by Euromoney Middle East Awards for Excellence. Commenting on the award, SICO’s Group CEO, Najla Al Shirawi, said, “We are incredibly proud of our team’s steadfast dedication and hard work, as well as the trust our clients place in us. This award is a testimony to to the ongoing success across all our business lines and our ability to deliver comprehensive investment solutions that meet our clients' aspirations. It also reaffirms SICO's position as a prime gateway to capital markets.” In May 2024, SICO continued to expand its product portfolio, partnering with Oman National Investment Development Company “Tanmia” to launch the USD 126 million Tanmia Liquidity Fund at the Muscat Stock Exchange. In June 2024, SICO also introduced fractional trading for international bonds and sukuk, capping the minimum investment from USD 200,000 to USD 50,000, providing clients with broadened diversification opportunities.

For the quarter, SICO’s consolidated net profit attributable to shareholders grew 47% year-on-year, to record BD 1.3 million (USD 3.5 million) in the second quarter of 2024 compared to BD 892 thousand (USD 2.4 million) recorded in the same three-month period of last year.

SICO BSC (c), a leading regional asset manager, broker, and investment bank with presence in Bahrain, Saudi Arabia, and the UAE, announces the launch of International Bonds and Sukuk trading for a minimum of USD 50,000, compared to the standard minimum investment of USD 200,000. This will offer clients increased opportunities to diversify their Bonds and Sukuk Investments.

SICO Capital, a subsidiary of SICO BSC (c), a Bahrain based Wholesale Bank licensed by Central Bank of Bahrain Bank and a leading provider for asset management, brokerage, and investment banking in the Kingdom of Saudi Arabia, announced today its new Board of Directors, which included the appointment of two new independent members: Fawaz Khalid AlBawardi and Mohamed Sameer Ghonaim; three new board members representing the parent company SICO BSC (c): Khalid Abdelaziz AlJassim, Ali Abdulrahaman Marshad, and Bassam Abdulaziz Noor; and the reappointment of Hassan bin Abdullah AlShuaiby as Chairperson and Najla Mohamed AlShirawi as Vice Chairperson. The new board shall serve for a period of three years.

SICO BSC (c), a leading regional asset manager, broker, and investment bank, with direct presence in Bahrain, UAE, and Saudi Arabia, has successfully completed its mandate as Joint Lead Manager (JLM) and Joint Bookrunner along with regional and international banks for BBK’s USD benchmark 5-year bond, yielding 6.875%.