Silah Gulf, Bahrain’s leading customer experience (CX) and business process outsourcing (BPO) provider, has launched an Initial Public Offering (IPO), marking a transformative milestone in the company’s 15-year history.
The offering, which opened on December 29 last year, seeks to raise approximately BD2.9 million in gross proceeds. Silah is offering 16,359,429 new shares, representing 30 per cent of the company’s issued share capital post-IPO, at an offer price of BD 0.176 per share.
Speaking on the launch, Silah Gulf chief executive Feras Ahmed told the GDN that going public is a strategic decision to accelerate the firm’s regional footprint. “This IPO is an invitation to join our growth story – a company committed to innovation, customer excellence, and contribution to the regional economy,” Mr Ahmed said.
The subscription period is set to close on January 19, 2026. To ensure a balanced market, the offering is structured with 70 per cent of shares allocated to professional investors and 30 per cent reserved for retail investors.
Eligible Bahraini and non-Bahraini investors can apply through the Bahrain Bourse eIPO portal, eipo.bahrainbourse.com or in person at designated BBK branches, including the Main Branch, Souq Al Baraha, Exhibition Financial Mall, and Atrium Mall. The company is expected to debut on the Bahrain Bourse on February 3, 2026, trading under the ticker symbol SILAH.
The capital raised will support Silah’s regional expansion strategy, particularly in Saudi Arabia and Kuwait. Mr Ahmed revealed that the company is already in discussions with a specific target to kick-start ambitious “inorganic growth” plans through acquisitions.
Despite global market volatility, the CEO expressed confidence in the timing. “Silah Gulf is listing because the company is operationally and strategically ready. We have a clear growth strategy, strong governance, and a scalable business model,” he noted, adding that the IPO is fully underwritten by the Bank of Bahrain and Kuwait (BBK).
Since its inception in 2009, Silah has evolved into a “one-stop partner” for vital sectors including government, telecoms, and banking, executing over 85 projects for more than 40 diverse clients.
“Silah competes through quality, technology integration, multilingual capabilities, and regional expertise. The company is focused on higher-value, complex CX solutions rather than volume-based commoditised services. Furthermore, our future growth plans are designed to protect and enhance the company’s margins,” Mr Ahmed added.
The firm’s financial health remains robust, with a 12.7 per cent increase in topline revenue for FY24, driven largely by its expansion into the Saudi market. Notably, the company maintains a high Bahrainisation rate of 86pc among its 936 professionals, with women representing 48pc of the workforce.
Investors participating in the IPO will be eligible for dividends declared for the financial year ending December 31, 2025, as well as potential bi-annual dividends thereafter, subject to performance.
To support market stability post-listing, SICO has been appointed to provide price stabilisation and liquidity provision services from the start of trading.
avinash@gdnmedia.bh
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