SICO BSC (c), a leading regional asset manager, broker, and investment bank (licensed as a wholesale bank by the CBB), announced today that it was named Best Investment Bank in Bahrain at the 2023 Euromoney Awards for Excellence for the fifth time
Commenting on the award, SICO CEO, Najla Al Shirawi, expressed her satisfaction with SICO’s business lines’ continuous accomplishments, saying, "We take pride in receiving this recognition from Euromoney, which serves as a testament to the unwavering dedication and hard work of our team, as well as the trust of our clients. SICO’s management and execution of a diverse range of innovative transactions, such as the sale of assets, primary and secondary listings, and mergers and acquisitions, have successfully established a track record of expertise and exceptional performance over the past 25 years. This acknowledgement further establishes our status as the prime gateway to capital markets for Bahrain and the region as a whole. We look forward to achieving new milestones in our home country and in Saudi Arabia through our subsidiary, SICO Capital, while constantly evolving to meet the needs of our clients.”
The division’s landmark transaction for 2022 was Kuwait Finance House’s (KFH) acquisition of Bahrain-based Ahli United Bank (AUB) in a USD 10.9 billion deal. SICO Investment Banking acted as Bahrain receiving agent, Bahrain execution advisor, and cross-listing advisor on the deal. The transaction stands today as the third largest banking acquisition in GCC history, resulting in the region’s sixth largest bank and the second largest Islamic lender. SICO’s mandate required significant synchronization with numerous stakeholders, including the central clearing houses of both countries and regulators.
Euromoney’s editorial team commented on the award, adding, “SICO not only played a key role on the landmark deal of the year in Bahrain, Kuwait Finance House’s acquisition of Bahrain’s Ahli United Bank, but it also worked on a number of standout deals in the hospitality sector and set up a new sharia-compliant fund for investors.”
SICO has maintained its position as the investment house of choice in the Bahraini market for more than two decades for equity and debt capital market transactions, M&A deals, and advisory services. Earlier this year, it was named Best Investment Bank by the Global Finance World’s Best Investment Banks 2023 Awards.
The Euromoney Best Investment Bank award recognizes industry-leading firms that demonstrate an ability to deliver for clients across investment banking products and sectors, including financing, advisory and markets, while demonstrating strong financial performance and risk management.
For the full release in English & Arabic, click here