Bahrain - BBK, a leader in retail and corporate banking in Bahrain, has announced its appointment as the Underwriter and Receiving Bank for the initial public offering (IPO) of Silah Gulf.

This reflects BBK’s continued commitment to supporting the development of Bahrain’s capital markets and enabling the growth of national companies, it said in a statement.

Silah Gulf is one of the region’s leading customer experience solutions providers and forms part of the investment portfolio of Mumtalakat, with its headquarters based in the kingdom. The underwriting mandate is expected to represent an important milestone in Silah Gulf’s growth journey, as the company advances its presence within regional and international markets.

BBK’s underwriting role reflects its confidence in the strength, resilience and maturity of Bahrain’s capital markets, and underscores the bank’s longstanding role in supporting initiatives that enhance market depth, and sustainable economic growth.

Through this appointment, BBK seeks to further strengthen its role as a key contributor to national initiatives supporting the delivery of Bahrain Vision 2030, while reinforcing Bahrain Bourse’s position as a central catalyst for capital market growth.

The Bank’s involvement supports the facilitation of market access for Bahraini companies, the expansion of the investor base, and the advancement of governance standards, in line with Bahrain Bourse’s strategic direction to develop the main market and attract high-quality listings that enhance the kingdom’s standing as a regional financial centre and support economic growth.

The subscription period will close on January 19. The offer price has been set at BD0.176 per share, with a minimum investment requirement of BD17.600, equivalent to one hundred shares. Upon completion of the offering procedures, the company’s shares are expected to be listed on the Main Market of the Bahrain Bourse.

Commenting on the offering, BBK Group chief executive officer Yaser Alsharifi said that the bank’s role as Underwriter and Receiving Bank for the Silah Gulf IPO aligns with its strategic commitment to supporting the evolution of Bahrain’s capital markets and facilitating access to market infrastructure for Bahraini companies.

He noted that BBK has historically played a leading role in supporting the Bahrain Bourse and is among the oldest banks in the kingdom to provide brokerage services, reflecting decades of experience in capital market activities.

“This appointment underscores the confidence placed in BBK’s expertise and operational capabilities and reaffirms its role as a strategic partner in building the infrastructure of Bahrain’s capital markets and supporting sustainable economic growth in the kingdom,” Mr Alsharifi said.

He referred to the availability of information related to the IPO of Silah Gulf through the Bahrain Bourse, and affirmed BBK’s role in providing comprehensive channels and the necessary support to ensure a smooth, secure and efficient subscription experience for all applicants.

The offering is open to all residents of the GCC states, including Bahraini and non-Bahraini nationals, subject to meeting the subscription eligibility requirements. The IPO targets both individual and institutional investors, and a total of 16,359,429 shares have been offered for subscription, of which 70 per cent will be allocated to professional investors, while 30pc will be allocated to retail investors.

Investors may subscribe electronically through the dedicated platform at eipo.bahrainbourse.com, or by submitting physical application forms available at the designated branches of BBK, namely the Main Branch, Atrium Mall Branch, Exhibition Financial Mall Branch, and Souq Al Baraha Branch, in addition to the Bahrain Bourse.

For further information regarding the subscription and its terms and conditions, interested investors are invited to contact the dedicated support team via email at cs@bahrainclear.com or through the hotline on +973 1715 4555.

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