Silah Gulf (Silah), a local portfolio company of Bahrain Mumtalakat Holding Company, has been listed on the Bahrain Bourse under the trading symbol ‘SILAH’ on the Mainboard Market.
The Silah IPO transaction was concluded on January 26, offering 16.3 million shares at $0.47 (BHD 0.176) per share, representing 30 percent of the company’s post-IPO share capital, with a total value of $7.69 million (BHD 2.9 million).
Strong demand from retail and professional investors led to 4 times more subscription, totaling 64.9 million shares, with overall demand exceeding $30.21 million (BHD 11.4 million), 97 percent of which was submitted through Bahrain Clear’s eIPO Portal.
Silah Gulf (Silah) will commence trading under the symbol ‘SILAH’ on the Initial Listing Market for six months, after which it will transfer to the Regular Market under the Information Technology sector, bringing the total number of companies on Bahrain Bourse to 41 and further strengthening the market’s diversity.
Shaikh Khalifa bin Ebrahim Al Khalifa, CEO of Bahrain Bourse, said that they are pleased to welcome the listing of Silah Gulf under the Information Technology sector, marking a key step in diversifying market sectors. He added that the listing reflects Silah’s commitment to innovation and growth while giving investors a chance to participate in a leading IT player’s success.
Mohamed Al Qaed, Chairman of Silah Gulf, described the listing as a pivotal milestone, highlighting the company’s operational strength, sustainable performance, and commitment to high standards of governance and transparency. He added that the IPO reinforces investor confidence, supports regional expansion, and strengthens Bahrain’s economy, positioning the kingdom as a leader in customer experience, communications, and digital innovation in line with Bahrain Economic Vision 2030.
Silah is a portfolio company of Bahrain Mumtalakat Holding Company and a leading customer experience (CX) and business process outsourcing (BPO) provider operating in Bahrain, Saudi Arabia, and Kuwait.
