MANAMA: Mahmood Rafique, Editor: : Silah Gulf a portfolio company of Bahrain Mumtalakat Holding Company and a leading customer experience (CX) and business process outsourcing (BPO) service provider operating in Bahrain, Saudi Arabia, and Kuwait) on Monday announced the commencement of its Initial Public Offering (IPO) to raise BD2.9million.
This came after the publication of its IPO prospectus on 24 December 2025 by Silah Gulf, and the Chairman of Silah Gulf Board, Mohammed Al Qaed, on the sidelines of the launch of the IPO Press conference told The24X7News (www.twentyfoursevennews) that the step is towards bringing more transparency as well as to execute Company’s plan to acquire businesses in Bahrain and across the region.
The IPO is structured with 70% of the shares on offer allocated to professional investors (i.e., those applying for over 568,182 shares) while 30% of the shares have been allocated to retail investors (i.e., those applying for less than 568,182 shares).
“The IPO will he help to further consolidate the company’s business and expanding its horizon as being the leader in CX and BPO service provider not only in Bahrain but across the GCC,” he added.
Mr. Al Qaed, who was joined by Firas Ahmed CEO Silah Gulf, said that company would continue to play a pivotal role in developing and contributing towards human resources development of Bahraini workforce in specialized segments of CX and BPO.
Firas Ahmed, the CEO, speaking exclusively to The24X7News (www.twentyfoursevennews) said that he was positive about the outcome of the IPO which opens on Monday 29th December, and closes on January 19th 2026. “The 70 per cent subscription is open to the institutional and professional investors while 30 per cent is open to citizens and the residents of Bahrain.
The offer comprises 16,359,429 new shares, representing 30% of the Company’s total issued share capital post-IPO, and is open to eligible retail and professional investors from 29 December 2025 to 19 January 2026 at an offer price of BD 0.176 per share.
“As we enter the subscription phase of our IPO, this important milestone marks a significant step forward in Silah Gulf’s growth journey,” the CEO of Silah Gulf, added. “This offering positions us to accelerate our expansion, strengthen our regional footprint, and advance our long-term strategy. We will continue to explore opportunities that enhance our capabilities and deliver value to our shareholders.”
Established in 2009, Silah is a multi-award-winning customer experience solutions provider that combines over 15 years of operational expertise in the GCC BPO/CX industry with a regional presence. The Company consistently delivers exceptional service by leveraging global best practices and deep operational know-how. Silah’s comprehensive specialization includes contact center operations, business process outsourcing, training, consulting, and technology services, all expertly deployed across Bahrain, Saudi Arabia, and Kuwait. With a team of over 900 skilled, multilingual professionals, Silah offers high-quality, technology-enabled CX solutions, maintaining a competitive cost structure to meet the growing regional demand.
The IPO is expected to generate BHD 2.9 million in gross proceeds, which will support Silah Gulf’s regional expansion strategy. The funds will be directed toward investing in technology, strengthening operational capabilities, and exploring inorganic growth opportunities that enhance the Company’s service offering and expand its presence across key regional markets.
“Silah Gulf presents an investment opportunity supported by operational fundamentals and a clear, forward-looking expansion strategy,” Ayman Gadallah, Head of Investment Banking at SICO, said. “Silah’s move to the public markets underscores the strength of Bahrain’s capital market infrastructure and the supportive ecosystem that enables companies to list successfully. As the Lead Manager, we remain fully committed to ensuring a smooth, transparent, and efficient IPO process for the Company, its investors, and the wider market.”
Investors can submit their applications through the eipo portal link available at eipo.bahrainbourse.com or in person through the following participating branches of the Bank of Bahrain and Kuwait (BBK): Main branch, Souq Al Baraha Branch, Exhibition Financial Mall Branch, Atruim Mall Branch. Potential investors are encouraged to read the IPO prospectus for additional information on the offering and the associated risks. The prospectus is currently available electronically at https://silah.bh/, and www.sicobank.com. Print copies of the prospectus and the application form will also be available at all participating branches of BBK.
On 3 February 2026, the Company’s shares will be listed and will trade on the Bahrain Bourse under the ticker symbol SILAH. All applicants that have been allocated shares in the IPO are then eligible to trade by opening an account with a Bahrain Bourse registered broker, if they do not already have one. Furthermore, applicants allotted shares in the IPO will be eligible to participate in any dividends declared for the year ending 31 December 2025, as well as any potential bi-annual dividends distributed by the Company thereafter. The Company has also appointed SICO to provide price stabilization and liquidity provision services from the start of trading on the Bahrain Bourse
SICO is acting as the mandated Lead Manager, Listing Agent, Price Stabilizer, and Liquidity Provider for the IPO. BBK serves as the Underwriter and the Receiving Bank. Bahrain Bourse is the Listing Exchange, Trowers & Hamlins and Hassan Radhi & Associates are the Legal Advisors to Silah Gulf, PricewaterhouseCoopers is the Financial Due Diligence Advisor, Ernst & Young – Middle East are the Auditors, and Bahrain Clear serves as the Allotment Agent and Share Registrar.