SICO Number one broker for 9 years in a row
Securities & Investment Company (SICO), the Bahrain based securities house announced today that it has continued its lead as the most active broker on the Bahrain Stock Exchange (BSE) by value of turnover. SICO has maintained it’s ranking as number one broker for the 9th consecutive year.
The firm’s market share by value of all trades on the BSE for 2007 amounted to BD 191 million (USD 506.7 million) representing 48.7 percent of total turnover value. The overall value of transactions amounted to BD 392 million (USD 1.042 Billion).
During 2007, SICO presented a number of institutions in executing block transactions as buy side, sell side or both sides broker.
Also during the year, SICO increased its business with foreign clients, further enhancing its status as the “broker of choice” on the BSE for international fund managers, prime brokers and banks. Over 50 per cent of the BSE’s turnover in 2007 was generated by foreign investors, with the majority of trading being executed by SICO.
SICO has also expanded its brokerage capabilities in the Gulf region complementing the firm’s Bahrain leading brokerage activities. During 2007, an upgrade in coverage and service levels contributed to a substantial increase in cross-border activity on behalf of institutional and individual clients in all six GCC stock markets.
Commenting on the achievement, Anthony C. Mallis, Chief Executive Officer, said, “We are pleased with the ongoing achievements of our brokerage unit and our ability to effectively execute trades on behalf of our clientele. SICO offers investors access to listed investment opportunities throughout the GCC, where we have also undertaken some of the largest trades on those markets.”
Securities & Investment Company is an investment bank offering a selective range of services, including asset management, brokerage, corporate finance and market-making, on a regional basis and with a particular emphasis on Bahrain. SICO was incorporated in Bahrain in 1995 and holds a banking license from the Central Bank of Bahrain.
As of December 31, 2007, SICO reported total assets of BD 104.832 million, with shareholders’ equity of BD 42.106 million. SICO’s shares have been listed on the Bahrain Stock Exchange since May 2003. Securities & Investment Company was the first ‘closed’ company to list on the exchange.
More information is available online at www.sicobahrain.com
