Manama, Bahrain – Silah Gulf, a leading customer experience and business process outsourcing provider and a portfolio company of Bahrain Mumtalakat Holding Company, officially opened subscriptions for its initial public offering yesterday.
Silah Gulf aims to raise approximately BD2.9 million ($7.7 million USD).
IPO Details
The IPO offers 16.36 million new shares, representing 30% of the company’s post-IPO share capital, at an offer price of BD0.176 per share.
The subscription window runs until 19 January 2026 and the shares are expected to list on the Bahrain Bourse on 3 February 2026, under the ticker SILAH.
The offering is open to both retail and professional investors, including non-Bahraini participants. Professional investors will be allocated 70% of the shares, while retail investors will receive the remaining 30%.
Strategic Rationale
Silah Gulf operates across Bahrain, Saudi Arabia, and Kuwait, providing contact centre operations, outsourcing, training, consulting, and technology solutions.
The company employs over 900 staff across the Gulf region.
CEO Feras Ahmed stated: “As we enter the subscription phase of our IPO, this milestone marks a significant step forward in Silah Gulf’s growth journey. The offering positions us to accelerate expansion, strengthen our regional footprint, and advance our long-term strategy.”
Proceeds from the IPO will be directed toward technology investments, operational enhancements, and potential inorganic growth opportunities.
Market Support and Oversight
The IPO is led by SICO, which is acting as lead manager, listing agent, price stabiliser, and liquidity provider, while Bank of Bahrain and Kuwait serve as underwriter and receiving bank.
Ayman Gadallah, Head of Investment Banking at SICO, noted: “Silah Gulf presents an investment opportunity supported by solid operational fundamentals and a clear expansion strategy. Its move to the public markets underscores the strength of Bahrain’s capital market infrastructure and the supportive ecosystem for IPOs.”
Investment Takeaway
For investors, Silah Gulf offers exposure to a fast-growing regional BPO and CX market, supported by a strong shareholder base and a roadmap for technology-led expansion.
The IPO provides both retail and institutional investors an opportunity to participate in the company’s growth across the Gulf.
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