Ma’aden – SIIC USD 1 billion ALBA share transaction
SICO successfully completed its role as execution agent and broker on behalf of both the Saudi Arabian Mining Company (Ma'aden) and SABIC Industrial Investment Company (SIIC) in a BHD 363,076,960 (equivalent to SAR 3,611,504,737) landmark transaction pertaining to 292,804,000 shares of Aluminum Bahrain B.S.C. (ALBA). Ma’aden acquired SIIC’s entire 20.62% shareholding in ALBA, making it ALBA’s second largest shareholder. Ma’aden is listed on the Saudi Exchange and is the largest mining company in Saudi Arabia. SIIC is a wholly owned subsidiary of SABIC, one of the world’s largest petrochemical manufacturers, also listed on the Saudi Exchange.
SICO Signs a Letter of Intent with The Arab Authority for Agricultural Investment and Development (AAAID) to Boost Agricultural Investment and Food Security
SICO signed a Letter of Intent with the Arab Authority for Agricultural Investment and Development (AAAID). SICO will act as the financial advisor to support AAAID’s strategic initiatives by identifying and sourcing direct investment opportunities within the agricultural and food security sectors. The primary objective of signing this Letter of Intent is to support AAAID’s goals within the Arab and GCC region, with a particular emphasis on Bahrain and Saudi Arabia. This will be achieved by collaborating on projects for AAAID, facilitating investment through equity and/or debt financing opportunities, and engaging in business development activities.
Employee Saving Scheme Delivers up to 12.6% Annualized Returns
SICO recently marked the second year since the initiation of its Employee Saving Scheme (ESS), which launched in June 2023. Since its launch, the scheme has delivered consistently strong returns across all risk profiles, validating SICO’s disciplined investment strategy and global diversification approach.
As of May 28, 2025, the four ESS portfolios (Cash, Conservative, Moderate, and Growth) have each delivered solid cumulative and annualized returns while maintaining low volatility. The Cash portfolio has returned 10.72% since inception, yielding an annual return of 5.29%. The Conservative portfolio followed with a cumulative return of 13.52% or 6.62% annualized. The Moderate portfolio achieved a 20.06% cumulative return, or 9.68% annualized, while the Growth portfolio led with a cumulative return of 26.53%, equivalent to an impressive 12.63% annualized.
Solidarity Bahrain Capital Raise
SICO acted as Lead Manager and Receiving Bank for Solidarity Bahrain’s BD 12 million capital raise through the issuance of Bahrain’s first Sharia-compliant, non-voting, non-cumulative, perpetual Tier 1 capital preference shares. The landmark transaction, offered via private placement to accredited shareholders, is aimed at strengthening the company’s Tier 1 capital and supporting its long-term growth strategy. SICO structured and executed the offering exclusively for existing accredited shareholders of Solidarity Bahrain. The offer period commenced on June 30th and closed on July 16th, 2025, following Solidarity’s Extraordinary General Meeting approval in March 2025 and receipt of all required regulatory approvals. A total of 12 million shares were issued at a nominal value of BD 1.00 per share.
SICO Capital Successfully Acquires Commercial Land in Jeddah
SICO Capital acquired a prime 15,000-square-meter commercial land plot in the prestigious Al Shatee district of Jeddah. The transaction, valued at SAR 188 million, marks a significant milestone for the Shatee Real Estate Fund, which is managed by SICO Capital.
The land titlehas officially been transferred to the Fund, with First Avenue holding a 15%ownership stake valued at SAR 30 million. Strategically located in a high-potential area with a building ratio of 5.6, this site is primed for development into a mixed-use project encompassing commercial, office, residential, and hotel components.
This landmark acquisition aligns with Jeddah’s evolving urban development goals and supports the Fund’s strategy to maximize investment returns while contributing to the city’s dynamic landscape.
SICO Capital Secures CMA Approval for Capital Increase
SICO Capital has received approval from the Capital Market Authority (CMA) to increase its paid-up capital from SAR 60 million to SAR 100 million. This significant milestone strengthens the company’s financial foundation and reinforces its commitment to strategic growth and expansion in the Saudi market.
Transition of Management of Saudi REIT
Following a strategic review, SICO Capital announced that unitholders have approved its voluntary decision to step down as manager of the SICO Saudi REIT. During a virtual meeting held on 26 June 2025, unitholders voted to appoint Wasatah Capital as the new fund manager. This move is designed to align with the long-term interests of unitholders and support the continued growth of the fund.
