Bahrain Bourse names SICO top broker

Manama : SICO yesterday announced it has maintained its status as the leading broker on the Bahrain Bourse for the 18th consecutive year. The achievement also resulted in SICO securing the Brokerage Award by Arab Federation of Exchanges (AFE) for the fourth consecutive year, announced SICO Chief Executive Officer, Najla Al Shirawi  in a statement. 

Al Shirawi also revealed that SICO is all set to launch it new online brokerage trading platform ‘sicolive’, which will enable institutional and retail investors to trade in real time across all GCC markets, plus Egypt and Jordan, from a single account through their desktop computers, laptops and mobile devices. 

Commenting on the award, Al Shirawi said: “SICO managed the largest block trade on the Bahrain Bourse so far this year, which involved the sale of Bahrain Islamic Bank’s entire stake of 14.22m ordinary shares in Takaful International, (valued at BD1.35m), to Bahrain Kuwait Insurance Company, who now owns 63.7 per cent of Takaful’s capital. 

The company has also been selected to receive the award for the ‘Highest Traded Shares on the Bahrain Bourse in 2016’ for being ranked first in terms of the highest value and volume of transactions on the Bourse during the year. 

The bank executed transactions involving 755 million shares (51.4pc) with a total value of BD136.2m (US$360.1m), constituting a leading market share of 54.7pc.