Al Abraaj Restaurant Groups’ IPO application deadline set for December 8

BAHRAIN – Leading restaurant operator Al Abraaj Restaurant Group has announced its Initial Public Offering (IPO) offered at BHD 0.236 per share (US$0.63) for a total of 35% of the operator’s issued share capital will culminate on December 8, 2024.

With the application deadline just five days away, interested investors can still subscribe to the AlAbraaj Restaurants Group IPO through SICO’s eIPO portal or by visiting any Khaleeji Bank branch.

The IPO prospectus is accessible online at the same website, while printed copies and application forms are available at all Khaleeji Bank branches and the Bahrain Bourse.

AlAbraaj Restaurants Group is renowned for offering exceptional dining experiences that blend local flavors with international cuisines.

The company manages a diverse portfolio of brands, including Al Abraaj, Bindaira, NuAsia, YaSalam, Lumee, Otto, LaRo, Sangam, San Carlo Cicchetti, Mazmiz, La Rotisserie, and several cloud kitchen concepts.

Additionally, AlAbraaj operates five franchised outlets, with three located in key Saudi Arabian cities: Khobar, Jeddah, and Riyadh.

The IPO is structured to allocate 70% of the offered shares to professional investors—defined as those applying for more than 1.5 million shares—while the remaining 30% is reserved for retail investors applying for fewer than 1.5 million shares.

SICO serves as the mandated lead manager, underwriter, listing agent, price stabilizer, and liquidity provider for the IPO.

Khaleeji Bank is the designated receiving bank, with all its branches across Bahrain participating. The Bahrain Bourse is the listing exchange.

Legal advisory services are provided by Trowers & Hamlins and Hassan Radhi & Associates, while KPMG acts as the financial due diligence advisor. BDO is the auditor for AlAbraaj Restaurants Group, and Bahrain Clear is the allotment agent and share registrar.

Established in 1987, AlAbraaj Restaurants Group has grown into a prominent player in Bahrain’s food and beverage industry.

The company operates 16 unique brands with 37 physical outlets in Bahrain, five franchised branches in Bahrain and Saudi Arabia, and 22 virtual branches. The Group employs approximately 1,200 staff and remains committed to delivering diverse culinary offerings across its expanding network.

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