SICO BSC (c), a leading regional asset manager, broker, and investment bank, with direct presence in Bahrain, Saudi Arabia, and the UAE, announced today the signing of a Letter of Intent with the Arab Authority for Agricultural Investment and Development (AAAID). SICO will act as the financial advisor to support AAAID’s strategic initiatives by identifying and sourcing direct investment opportunities within the agricultural and food security sectors.
The primary objective of signing this Letter of Intent is to support AAAID’s goals within the Arab and GCC region, with a particular emphasis on Bahrain and Saudi Arabia. This will be achieved by collaborating on projects for AAAID, facilitating investment through equity and/or debt financing opportunities, and engaging in business development activities.
Najla Al Shirawi, Group CEO of SICO, said, “We are thrilled to announce our strategic collaboration with AAAID. By leveraging our expertise in investment sourcing, acquisition advisory, capital-raising, and joint ventures, we aim to drive value and promote sustainable growth within the agriculture sector. Together, we are committed to making a significant impact on the agricultural industry and ensuring a secure and sustainable future.”
HE. Dr. Obaid Al Zaabi, Chairman of AAAID, stated, “This collaboration aligns with our strategic vision to enhance our capabilities, enabling us to equip our projects with the necessary tools and information to achieve our ambitious goals and aspirations. By capitalizing on SICO’s extensive expertise in the industry, we are well-positioned to identify and execute high-impact projects that will drive sustainable growth. Our collaboration will focus on innovative solutions and strategic investments that address the unique challenges of our region.”
Through this collaboration, SICO will provide acquisition advisory services, including due diligence, valuations, and transaction structuring and execution support. Additionally, SICO will assist in capital-raising activities for AAAID’s invested companies and explore joint venture opportunities. The partnership will emphasize promoting sustainable agricultural practices and enhancing food security resilience across the region.
About SICO
SICO is a leading regional asset manager, broker, and investment bank with USD 7.9 bn in assets under management (AUM). Today, SICO operates under a wholesale banking licence from the Central Bank of Bahrain and also oversees two wholly owned subsidiaries: an Abu Dhabi-based brokerage firm, SICO Invest, and a full-fledged capital markets services firm, SICO Capital, based in Saudi Arabia. Headquartered in the Kingdom of Bahrain with a growing regional and international presence, SICO has a well-established track record as a trusted regional bank offering a comprehensive suite of financial solutions, including asset management, brokerage, investment banking, and market making, backed by a robust and experienced research team that provides regional insight and analysis of more than 90 percent of the region’s major equities. Since inception in 1995, SICO has consistently outperformed the market and developed a solid base of institutional clients. Going forward, the bank’s continued growth will be guided by its commitments to strong corporate governance and developing trusting relationships with its clients. The bank will also continue to invest in its information technology capabilities and the human capital of its 150 exceptional employees.
Media Contact:
Ms. Nadeen Oweis
Head of Corporate Communications, SICO
Direct Tel: (+973) 1751 5017
Email: noweis@sicobank.com