Manama, Bahrain – AlAbraaj Restaurants Group, a leading company in Bahrain’s restaurant industry announces the appointment of SICO BSC (c) as the Lead Manager for its upcoming initial public offering (IPO). SICO is a prominent regional asset manager, broker, and investment bank with a direct presence in Bahrain, Saudi Arabia, and the UAE.
The IPO aims to establish one of the largest publicly traded food and beverage entities in Bahrain and is expected to be launched before the end of this year, with a listing on the main market of the Bahrain Bourse.
Founded in Bahrain in 1987, AlAbraaj Restaurants Group has become a significant player in the casual food and beverage (F&B) sector. The company operates a portfolio of 15 brands across 37 physical locations and 22 virtual branches, employing around 1,200 individuals. Its restaurants include popular eateries such AlAbraaj, Bindaira, NuAsia, Lumee, YaSalam, Otto, San Carlo Cicchetti, Mazmiz, La Ro, and Sangam, alongside several cloud kitchen concepts, all of which offer unique dining experiences that cater to Bahrain’s diverse consumer base. AlAbraaj also franchises five restaurants, three of which are located in key cities in Saudi Arabia—Khobar, Jeddah, and Riyadh.
As part of its regional growth strategy, AlAbraaj is opening new concepts within upcoming locations such as the Avenues Mall extension, Al Liwan at Hamala, and Bahrain City Center. Additionally, it is finalizing plans for direct entry into the Saudi Arabian market, complementing its franchise operations there.
As the appointed Lead Manager, SICO will leverage its extensive expertise and in-depth understanding of the regional market to support AlAbraaj’s transition into the public sphere. This IPO represents a significant milestone in AlAbraaj’s journey, building on over four decades of legacy and growth, while enhancing transparency, operational scale, and brand recognition.
Najla Al Shirawi, Group CEO of SICO, stated, “We are pleased to be at the helm of AlAbraaj Restaurant Group’s IPO as they embark on this exciting journey. AlAbraaj is a brand that embodies the entrepreneurial spirit and innovation that Bahrain is known for, and this IPO represents a new opportunity to invest in the Kingdom’s expanding F&B industries, potentially contributing to increased trading and liquidity on the Bahrain Bourse. Our involvement reinforces SICO’s track record as a leading provider of comprehensive and innovative investment banking services in the GCC since 1995. We look forward to a successful IPO in the weeks to come.”
Hamad Rashed Isa, Chairman of AlAbraaj Restaurants Group, commented, “The planned listing on the main market of the Bahrain Bourse marks a significant milestone in our journey that began in 1987. We are proud to showcase a portfolio reflective of Bahrain’s rich culinary culture and are excited to accelerate our growth across the GCC. With SICO’s support, we’re ready to embark on this new phase, empowering our brands and expanding our reach within Bahrain and beyond. This IPO will enable us to build on our strong foundation, bring our restaurant concepts to new markets, and pave the way for future growth.”
Wissam Haddad, Group Head of Investment Banking at SICO, added, “AlAbraaj’s IPO will also benefit from our new eIPO platform, aligning with SICO’s vision to provide sophisticated digital solutions that cater to evolving market needs. AlAbraaj’s diversified offering, targeting the casual mid-priced segment, includes Italian, Indian, Bahraini, Middle Eastern, French, and many other cuisines catering to a diverse consumer taste.”
More information about the IPO will be announced in due course.
About AlAbraaj Restaurants Group
Founded in 1987, AlAbraaj Restaurants Group is a trusted name in Bahrain’s restaurant industry, known for its diverse portfolio spanning of 15 brands across 37 physical locations and 22 virtual branches, employing around 1,200 individuals. Its popular restaurants include AlAbraaj, Bindaira, NuAsia, Lumee, YaSalam, Otto, San Carlo Cicchetti, Mazmiz, La Ro, and Sangam, alongside several cloud kitchen concepts, committed to quality and innovation, AlAbraaj continues to lead Bahrain’s dining scene, delighting guests across the region.
About SICO
SICO is a leading regional asset manager, broker, and investment bank with USD 6.2 bn in assets under management (AUM). Today, SICO operates under a wholesale banking licence from the Central Bank of Bahrain and also oversees two wholly owned subsidiaries: an Abu Dhabi-based brokerage firm, SICO Invest, and a full-fledged capital markets services firm, SICO Capital, based in Saudi Arabia. Headquartered in the Kingdom of Bahrain with a growing regional and international presence, SICO has a well-established track record as a trusted regional bank offering a comprehensive suite of financial solutions, including asset management, brokerage, investment banking, and market making, backed by a robust and experienced research team that provides regional insight and analysis of more than 90 percent of the region’s major equities. Since its inception in 1995, SICO has consistently outperformed the market and developed a solid base of institutional clients. Going forward, the bank’s continued growth will be guided by its commitments to strong corporate governance and developing trusting relationships with its clients. The bank will also continue to invest in its information technology capabilities and the human capital of its 150 exceptional employees.
