The Initial Public Offering of AlAbraaj Restaurants Group, offered at BHD 0.236 per share for a total of 35% of the company’s issued share capital, will culminate this week on December 8th.
With just three days left until the application deadline, potential investors can continue to subscribe through the SICO’s eipo portal link available at http://www.alabraajipo.com or in person through any branch of Khaleeji Bank.
The prospectus is currently available electronically at http://www.alabraajipo.com. Print copies of the prospectus and the application form are also available at all branches of Khaleeji Bank and the Bahrain Bourse.
AlAbraaj Restaurants Group has become synonymous with delivering high-quality dining experiences that celebrate both local flavors and international cuisines.
They have brands like Al Abraaj, Bindaira, NuAsia, YaSalam, Lumee, Otto, LaRo, Sangam, San Carlo Cicchetti, Mazmiz, La Rotisserie and several cloud kitchen concepts.
AlAbraaj also franchises five restaurants, three of which are located in key cities in Saudi Arabia—Khobar, Jeddah, and Riyadh.
The IPO is structured with 70% of the shares on offer allocated to professional investors (i.e., those applying for over 1.5 million shares) while 30% of the shares have been allocated to retail investors (i.e., those applying for less than 1.5 million shares).
SICO is the mandated lead manager, underwriter, listing agent, price stabilizer, and liquidity provider and Khaleej Bank has been appointed as the receiving bank with all of its branches across Bahrain participating in the IPO.
Bahrain Bourse is the Listing Exchange and Trowers & Hamlins and Hassan Radhi & Associates are the legal advisors.
KPMG is the financial due diligence advisor and BDO are the Auditors to AlAbraaj Restaurants Group and Bahrain Clear are the allotment agent for the IPO and share registrar for the company.
Founded in 1987, AlAbraaj Restaurants Group has emerged as one of Bahrain’s leaders in the food and beverage scene.
Known for its diverse range of local and international cuisines, the Group operates 16 brands with 37 physical branches in Bahrain and 5 franchised branches in both Bahrain and Saudi Arabia, and 22 virtual branches, with around 1200 employees.
