The Bahrain Stock Exchange lists Al Abraj Restaurants Group after offering 38 million shares for subscription at a price of 0.236 dinars

Trading begins in Al Abraj Restaurant Group B.S.C. shares. On the Bahrain Stock Exchange

The total subscription size was covered 2.6 times

On Thursday, December 19, 2024, the Bahrain Stock Exchange announced the listing of Al Abraj Restaurants Group B.S.C. (ABRAAJ), and the bell was rung on the trading floor to announce the start of trading in the group’s shares in a distinguished ceremony at the Bahrain Bourse headquarters in the presence of Sheikh Khalifa bin Ibrahim Al Khalifa, CEO of the Bahrain Bourse, and Mr. Hamad Rashid Issa, Chairman of the Board of Directors of Al Abraj Restaurants Group, in addition to the executive management of the Bahrain Bourse and Sico. And senior officials from many relevant institutions and bodies.

For his part, Sheikh Khalifa bin Ibrahim Al Khalifa, CEO of the Bahrain Bourse, said: “I am pleased to welcome Al Abraj Restaurant Group to join the Bahrain Bourse within the luxury consumer goods sector, as the joining of the group with extensive experience in the hospitality and restaurant sector will contribute to expanding the horizons of investment opportunities for investors.” On the Bahrain Stock Exchange, the IPO witnessed a wide response from investors, which reflects investors’ confidence in the Bahrain Stock Exchange and confirms the Bahrain Stock Exchange’s commitment to attracting new companies and encouraging them to grow, in addition to providing diverse sectors to support. “The economic diversification of the Kingdom of Bahrain, which contributes to enhancing the role of financial markets as a major driver of sustainable economic growth, and paving the way for companies from various sectors to benefit from the many advantages of listing.”

Mr. Hamad Rashid Issa, Chairman of Al Abraj Restaurant Group, commented: “Today is an important day, for everyone who has been part of this journey over the past 37 years. As we celebrate the listing

The official launch of Al Abraj Restaurants Group on the Bahrain Stock Exchange. I feel very proud and grateful. We will continue to uphold our values, the trust of our customers, the dedication of our employees, and our unwavering belief in our potential to develop and grow. “

For her part, Mrs. Najla Al Shirawi, CEO of SICO, commented by saying: “The IPO witnessed widespread interest from individual investors of all age groups, which exceeded expectations. The turnout for the offering by professional investors was also good, which reflects the popularity of distinctive investment opportunities in the food and beverage sector and the strength of the offering.” The business model of Al Abraj Restaurants Group, and the promising growth potential it holds. There is no doubt that the good evaluation of the public offering has provided investors with an opportunity to combine the possibility of an increase in the value of the stock after listing, as well as obtaining. Regular income through dividends. We are pleased to extend our sincere congratulations to Al Abraj Restaurants Group on its successful listing, and we look forward to continuing to support it in its journey towards further growth and regional expansion.”

Al Abraj Restaurants Group will be traded under the symbol (ABRAAJ) in the IPO market for a period of six months, according to the procedures followed in the market, and will be transferred to the regular market to be traded within the luxury consumer goods sector. The listing of Al Abraj Restaurants Group brings the total number of companies listed on the stock exchange to 41 companies.

Al Abraj Restaurants Group is a leading company in the food and beverage sector, managing 16 brands as well as a number of cloud kitchens in both Bahrain and the Kingdom of Saudi Arabia.

It is worth noting that in December 2024, Al Abraj Restaurants Group completed the procedures for its initial offering for subscription by offering 38,181,818 shares at an offering price of 236 fils per share, which represents 35% of its issued capital after the offering, which resulted in covering the total subscription size 2.6 times, which represents a large turnout from By professional investors and individual investors.