Corporate Finance

SICO is a leading provider of Corporate Finance services in Bahrain and the GCC region, having successfully concluded a large number of high profile domestic and regional offerings. Offering a wide range of corporate finance services including Privatization Programs advise, managing and leading Initial Public Offerings and Rights Issues, advising and managing Secondary Listings on regional markets, we also provide Mergers & Acquisitions advise, fairness opinions, private placements, and debt raising through bond and sukuk issues. We strive to provide unbiased advise and when needed create financing alternatives to our clients that are innovative and effective. Through the integration of idea origination with research and distribution we are able to address our clients' capital requirements providing the optimal sources of funding.

Our Corporate Finance Services cover:

Initial Public Offering (IPO) Privitisation
Debt & Equity Origination & Structuring Private Placement
Fund Raising Financial Restructuring
Mergers & Acquisitions Advisory Business Valuation
Deal Negotiation Support Underwriting
Fund Structuring Primary & Secondary Listing
Finacial Advisory Rights Issue
Bond Issue  

We improve client businesses by:

  • Provide strategic advisory services to corporations and organizations;
  • Advise corporations and organizations throughout the Initial Public Offering process;
  • Advise corporations and organizations throughout the merger and acquisition process;
  • Structure and supervise privatization programs and transactions;
  • Financial restructuring to improve financing strategy and costs of funds;
  • Structure, manage, and underwrite financial instruments and securities;
  • Locating local or regional financiers and assist in raising funds;
  • Assist with researching the right investment opportunities for clients throughout the region.

Recent Projects


Securities & Investment Company B.S.C.:

In May 2008, SICO Investment Bank acted as Issue Manager, Receiving Bank and Registrar for Securities & Investment Company B.S.C.(SICO) Rights Issue, the Issue size was US$ 38.7 million and was oversubscribed by 46%

Khaleeji Commercial Bank:

In June 2008, SICO Investment Bank acted as listing Advisor for Khaleej Commercial Bank primary listing on Bahrain Bourse ( BHB) , the listing was 1,000,000,000 of ordinary shares of  Nominal Value BD.0.100.

Milestones

  • 2008

    • General Trading & Food Processing Company - Bahrain
      SICO Role: Lead Manager
      Issue Type: Rights Offering of Newly Issued Shares
      Issue Size: US$ 10 million
      Issue Result: Subscription of 1.2 times
    • Bahrain Commercial Facilities Company – Bahrain
      SICO Role: Lead Manager
      Issue Type: Rights Issue of Ordinary Shares
      Issue Size: BD 25.41 million
      Issue Result: Fully Subscribed
    • Securities & Investment Company B.S.C. (Bahrain)
      SICO Role: Issue Manager, Receiving Bank and Registrar
      Issue Type: Rights Issue
      Issue Size: 141,152,662 Ordinary Shares of Nominal Value BD 0.100
      Issue Date: May 2008
      Issue Result: 46% Oversubscribed
    • Khaleeji Commercial Bank – Bahrain B.S.C
      SICO Role: Listing Advisor
      Issue Type: Primary Listing on Bahrain Bourse
      Issue Size: 1,ooo,ooo,ooo Ordinary Shares of Nominal Value BD 0.100
      Issue Date: June 2008
      Issue Result: Listing on BHB
  • 2007

    • Bahrain Islamic Bank BSC
      SICO Role: Lead Manager
      Issue Type: Rights Offering
      Issue Size: US$ 225 million
      Issue Date: September 2007
      Issue Result: 10% Oversubscribed
    • BBK BSC
      SICO Role: Lead Manager
      Issue Type: Rights Offering
      Issue Size: US$ 133 million
      Issue Date: October 2007
      Issue Result: 5% Oversubscribed
  • 2006

    • Al Salam Bank. ( Initial Public Offering)
      SICO Role: Lead Manager
      Issue Type: Initial Public Offering (IPO)
      Issue Size: US$ 111 million
      Issue Date: March 2006
      Issue Result: 63 times Oversubscribed
    • European Islamic Investment Bank Plc
      SICO Role: Co-Lead Manager
      Issue Type: Initial Public Offering and Admission to trading on AIM
      Issue Size: GBP 75 million
      Issue Date: May 2006
      Issue Result: Fully Subscribed
    • Bahrain Commercial Facilities Company B.S.C.
      SICO Role: Co-Lead Manager and Co-Underwriter
      Issue Type: Public Offering of Floating Rate Bond
      Issue Size: US$ 25 million
      Issue Date: June 2006
      Issue Result: 2.8 times Oversubscribed
  • 2005

    • Nass Corporation B.S.C. ( Initial Public Offering)
      SICO Role: Lead Manager & Co-Financial Advisor
      Issue Type: Initial Public Offering (IPO)
      Issue Size: US$ 81 million
      Issue Date: October 2005
      Issue Result: 162% Oversubscribed
    • Bahrain Commercial Facilities Company (FRN)
      SICO Role: Co-manager & Co-underwriter
      Issue Type: Public Offering of Floating Rate Bonds
      Issue Size: US$ 25.0 million
      Issue Date: May 2005
      Issue Result: Fully Subscribed
    • Esterad Invesment Company BSC (FRN)
      SICO Role: Co-manager
      Issue Type: Private offering of Floating Rate Bonds
      Issue Size: US$25 million
      Issue Date: June 2005
      Issue Result: Fully Subscribed
    • Bahraini Saudi Bank BSC (Rights Issue)
      SICO Role: Financial Advisor & Issue Manager
      Issue Type: Rights issue offering
      Issue Size: US$ 63.6 million
      Issue Date: April 2005
      Issue Result: 13% oversubscribed
    • Raya Holding Technology S.A.E. “RAYA" (IPO)
      SICO Role: Co-Lead Manager
      Issue Type: Secondary Offering & Listing
      Issue Size: US$ 60 million
      Issue Date: April 2005
      Issue Result: 150% Oversubscribed
    • Bahrain Cinema Company BSC “Cineco" (Rights Issue)
      SICO Role: Manager & Underwriter
      Issue Type: Rights Issue of ordinary shares
      Issue Size: US$ 4 million
      Issue Date: January 2005
      Issue Result: 38% Oversubscribed
    • SICO Funds Services Company BSC (c)
      SICO Role: Originator & Founder
      Issue Type: Establishment of a new Subsidiary
      Issue Size: US$ 1.5 million
      Issue Date: January 2005
      Issue Result: Fully established & operational
  • 2003

    • ALBA (FRN)
      SICO Role: Lead Manager, Underwriter & Arranger
      Issue Type: Public Offering of Floating Rate Bonds
      Issue Size: US$ 200 million
      Issue Date: June 2003
      Issue Result: Fully Subscribed
  • 2002

    • Dana Hotels Co (FRN)
      SICO Role: Lead Manager, Underwriter & Arranger
      Issue Type: Private Placement
      Issue Size: US$ 26 million
      Issue Date: November 2002
      Issue Result: Covered
    • Investcorp (Various)
      SICO Role: Broker to the Issue
      Issue Type: Rights Issue Offering
      Issue Size: US$ 251 million
      Issue Date: December 2002
      Issue Result: Fully Underwritten
  • 2001

    • Bahrain Commercial Facilities Company (FRN)
      SICO Role: Co-Manager & Co-Underwriter
      Issue Type: Public Offering of Floating Rate Bonds
      Issue Size: US$ 21.2 million
      Issue Date: June 2001
      Issue Result: Oversubscribed by more than 4 times
    • Investcorp (Various)
      SICO Role: Handling Agent
      Issue Type: Rights Issue and Public Offering of Preference Shares
      Issue Size: US$200 million
      Issue Date: May 2001
      Issue Result: 10% oversubscribed
  • 2000 and Prior

    • General Trading & Food Processing Company (IPO)
      SICO Role: Advisor, Issue Manager & Lead Underwriter
      Issue Type: Rights Issue of Ordinary Shares
      Issue Size: US$5.4 million
      Issue Date: May 2000
      Issue Result: 40% oversubscribed
    • Bahrain Maritime & Mercantile International (Rights Issue)
      SICO Role: Co-Manager & Underwriter
      Issue Type: Secondary Offering of Ordinary Shares
      Issue Size: US$32 million
      Issue Date: November 1999
      Issue Result: 37% oversubscribed
    • Bahrain Kuwait Insurance Company (Rights Issue)
      SICO Role: Advisor, Issue Manager & Lead Underwriter
      Issue Type: Rights Issue of Ordinary shares
      Issue Size: US$19.3 million
      Issue Date: January 1999
      Issue Result: 11% oversubscribed
    • Qatar Telecom (IPO)
      SICO Role: Co-Manager for Bahrain
      Issue Type: Initial Public Offering of Ordinary shares - Privatization
      Issue Size: US$717 million
      Issue Date: December 1998
      Issue Result: Oversubscribed by more than 2 times
    • SICO Funds Company
      SICO Role: Advisor, Distributor & Fund Manager
      Issue Type: Public Offering of Participating Units
      Issue Size: US$12 million
      Issue Date: May 1998
      Issue Result: Fully subscribed
    • Arab Insurance Group (IPO)
      SICO Role: Underwriter & Manager for Bahrain
      Issue Type: Initial Public Offering of Ordinary shares
      Issue Size: US$290 million
      Issue Date: December 1997
      Issue Result: Oversubscribed by more than 5 times