AlAbraaj Restaurants Group B.S.C. (‘ABRAAJ’) Shares Commences Trading on Bahrain Bourse

• BHB announces the listing of AlAbraaj Restaurants Group following AlAbraaj Group's offering of 38 million shares at BHD 0.236 per share
• The Offering was oversubscribed by 2.6 times

Bahrain Bourse announced on Thursday, 19th December 2024 the listing of AlAbraaj Restaurants Group B.S.C. under the trading symbol ‘ABRAAJ’, where a ringing bell ceremony was held to mark the commencement of trading on ABRAAJ shares in the presence of Sh. Khalifa Bin Ebrahim Al Khalifa, Chief Executive Officer of Bahrain Bourse, Hamad Rashed Isa, Chairman of AlAbraaj Restaurants Group alongside the executive management of Bahrain Bourse, SICO, and senior representatives from various entities and stakeholders.

On his part, Sh. Khalifa Bin Ebrahim Al Khalifa Chief Executive Officer of Bahrain Bourse said: “We are pleased to welcome the listing of AlAbraaj Restaurants Group under the Consumer Discretionary sector on Bahrain Bourse. With its expertise in the F&B sector and strong track record, AlAbraaj Restaurants Group represents a strong addition to our market offering. The IPO was met with strong demand which reflects investor trust in Bahrain Bourse and underscores our commitment towards issuer growth, as well as reinforces the Kingdom’s commitment to economic diversification, and positioning of the capital markets as a key driver of sustainable growth and development, as well as paves the way for companies from various sectors to explore the benefits of listing.”

Hamad Rashed Isa, Chairman of AlAbraaj Restaurants Group said, “Today is a monumental day, for everyone who has been part of this journey over the past 37 years. As we celebrate the official listing of AlAbraaj on Bahrain Bourse, I am filled with immense pride and gratitude. We will continue upholding our values, the trust of our customers, the dedication of our employees, and our unwavering belief in our potential for growth.”

Commenting on the IPO, Najla Al-Shirawi, SICO’s Group CEO, said: “The remarkable demand from retail investors across diverse age groups, coupled with strong interest from professional investors, far surpassed expectations. This underscores the exceptional appeal of high-quality opportunities in the F&B sector and highlights the strength of Al Abraaj's robust business model and promising growth trajectory. The offering’s compelling valuation provided investors with a unique opportunity of potential capital appreciation and consistent income through dividend payouts. We extend our heartfelt congratulations to Al Abraaj Restaurants Group on their successful listing and eagerly anticipate their continued growth and regional expansion.”

AlAbraaj Restaurants Group will commence trading under the trading symbol ABRAAJ in the IPO Market for a duration of six months according to the procedures followed in the market, and will then be transferred to the regular market to be traded under the Consumer Discretionary sector. Following the listing of AlAbraaj Restaurants Group, the total number of listed companies at Bahrain Bourse rose to 41 companies.

AlAbraaj Restaurants Group is one of the leaders in the food and beverage industry, known for its diverse portfolio of 16 successful brands as well as cloud kitchens across Bahrain and the Kingdom of Saudi Arabia.

It is worth mentioning that ABRAAJ IPO transaction was completed in December 2024 an Initial Public Offering (IPO), where 38,181,818 shares were offered at a price of BD 0.236 per share, representing 35% of the company’s total issued post-IPO share capital. The IPO was met with strong retail & professional demand resulting in an oversubscribed offer of 2.6 times.

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