Latest news with #AlAbraaj
Biz Bahrain
16-05-2025
- Business
- Biz Bahrain
Al Abraaj Restaurants Group becomes the first Bitcoin Treasury Company in the Middle East
Al Abraaj Restaurants Group B.S.C. (Ticker: ABRAAJ) ('Company'), a public listed company on the Bahrain Bourse, is pleased to announce that it has purchased Bitcoin for its balance sheet, becoming the first publicly traded company in the Kingdom of Bahrain, the Gulf Cooperation Council ('GCC'), and the Middle East to acquire Bitcoin as a treasury asset. This initiative marks a significant step in the company's commitment to innovation and diversification. Al Abraaj has acquired an initial amount of 5 Bitcoin. In alignment with the evolving financial landscape and the growing institutional interest in Bitcoin, Al Abraaj will build on this initial purchase and begin allocating a significant portion of its corporate treasury into Bitcoin. Al Abraaj considers Bitcoin to be its reserve treasury asset. Al Abraaj is a profitable company, with 2024 EBITDA of USD $12.5 million. This move is designed to enhance the company's asset portfolio and capitalize on emerging opportunities within the capital markets. Al Abraaj aims to innovate with shari'a compliant financial instruments to give the Islamic world broader exposure to Bitcoin. The Company has partnered with 10X Capital, the NYC-based investment firm with a track record of managing treasury assets for publicly listed companies, and advising and capitalizing listed Bitcoin Treasury Companies, including most recently advising Nakamoto on its $710M financing (Nasdaq:KDLY), the largest capital raise to launch a Bitcoin Treasury Company and the largest private placement for any public bitcoin-related transaction ever. In collaboration with 10X, the Company plans to raise capital to acquire additional Bitcoin, with a goal of maximizing Bitcoin per share. The decision to begin purchasing Bitcoin as a treasury asset follows comprehensive due diligence and aligns with the innovative regulatory framework established by the Central Bank of Bahrain (CBB). Al Abraaj Restaurants Group B.S.C. is committed to full compliance with all applicable laws and regulations, including those pertaining to digital asset transactions and disclosures. 'Our initiative towards becoming a Bitcoin Treasury Company reflects our forward-thinking approach and dedication to maximizing shareholder value,' said Abdulla Isa, Chairman of the Bitcoin Treasury Committee of Al Abraaj Restaurants Group B.S.C.. 'We believe that Bitcoin will play a pivotal role in the future of finance, and we are excited to be at the forefront of this transformation in the Kingdom of Bahrain. 10X is a proven leader in advising and bringing capital to listed Bitcoin Treasury Companies, and we welcome their partnership in helping us build the MicroStrategy of the Middle East.' 'I'd like to congratulate Abdalla Isa and the team at Al Abraaj for adopting Bitcoin at the corporate treasury level, finally enabling anyone in the GCC with a brokerage account to gain Bitcoin exposure,' said Hans Thomas, CEO of 10X Capital. 'Bahrain continues to be a leader in the Middle East in Bitcoin adoption, backed by a forward-thinking regulatory framework.' Mr. Thomas added, 'The GCC, with a combined GDP of $2.2 trillion—larger than Canada, Russia, Italy, Brazil, Australia, South Korea, or Spain—over $6 trillion in sovereign wealth funds, and a population of just 57.6 million, has until now lacked a publicly listed Bitcoin treasury company like Strategy (Nasdaq: MSTR), Tesla (Nasdaq: TSLA), or Metaplanet (Tokyo: 3350.T). That changes today with ABRAAJ's historic Bitcoin purchase, giving investors across Bahrain, Saudi Arabia, UAE, Kuwait, Qatar, and Oman access to Bitcoin through a publicly traded stock. In fact, almost anyone in the world can buy ABRAAJ stock by registering with the Bahrain Bourse.' Al Abraaj Restaurants Group B.S.C. will implement robust custody, portfolio risk management and governance policies to oversee its Bitcoin holdings, including by creating a Bitcoin Committee that will consist of experienced Bitcoin investors and portfolio managers and global capital markets experts. The company intends to provide regular updates to shareholders and stakeholders regarding its Bitcoin-related activities. This strategic initiative underscores Al Abraaj Restaurants Group B.S.C.'s commitment to innovation, diversification, and long-term growth. The company looks forward to contributing to the development of Bahrain's digital economy and establishing its position as a leader in the region's financial sector.
Yahoo
15-05-2025
- Business
- Yahoo
Popular restaurant chain imitates MicroStrategy and Tesla in its operations
Al Abraaj Restaurants Group, a popular restaurant chain listed on the Bahrain Bourse, announced on May 15 that it has acquired Bitcoin to add to its corporate treasury. With this landmark step, the restaurant group has become the first publicly traded company in the Kingdom of Bahrain, the Gulf Cooperation Council, and the Middle East to add Bitcoin to its balance sheet. Al Abraaj has purchased five Bitcoin in its first acquisition and aims to dedicate a major portion of its treasury to cryptocurrency, as Bitcoin is the primary reserve asset in its institutional treasury. The company claims to follow in the footsteps of companies such as MicroStrategy (NASDAQ: MSTR), Elon Musk's Tesla (NASDAQ: TSLA), and Metaplanet (TOKYO: 3350.T), which are among the world's largest corporate holders of Bitcoin. Al Abraaj has joined forces with the NYC-based investment firm 10X Capital to raise additional capital to add more Bitcoin to its treasury for the purpose of holding maximum Bitcoin per share. 10X Capital is well-known for advising leading Bitcoin treasury firms, including David Bailey's Bitcoin-native firm Nakamoto during its landmark $710 million deal with KindlyMD Inc. Bailey advised Donald Trump on crypto policy during the 2024 presidential campaign. "Our initiative towards becoming a Bitcoin Treasury Company reflects our forward-thinking approach and dedication to maximizing shareholder value," said Abdulla Isa, Chairman of the Bitcoin Treasury Committee of Al Abraaj Restaurants Group B.S.C. 'I'd like to congratulate Abdalla Isa and the team at Al Abraaj for adopting Bitcoin at the corporate treasury level, finally enabling anyone in the GCC with a brokerage account to gain Bitcoin exposure,' Capital CEO Hans Thomas said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Mid East Info
15-05-2025
- Business
- Mid East Info
Al Abraaj Restaurants Group (Bahrain: ABRAAJ) Announces It has Become The First Bitcoin Treasury Company in the Middle East
Al Abraaj made a historic initial purchase of Bitcoin for its corporate treasury, becoming the first publicly listed company in the Middle East to adopt a Bitcoin treasury strategy Al Abraaj is the first publicly listed company in the Gulf Cooperation Council (GCC) and the Middle East to adopt a Bitcoin Treasury strategy, similar to MicroStrategy (Nasdaq:MSTR) and Tesla (Nasdaq: TSLA), and Metaplanet (Tokyo: 3350.T) which was the best performing stock in the world in 2024. Al Abraaj has partnered with 10X Capital ('10X'), and plans to raise capital to buy additional Bitcoin for its treasury to increase its new KPI of Bitcoin per share 10X is a NYC-based investment firm focused on the Bitcoin Treasury space, who most recently advised Nakamoto on its $710M fundraise (Nasdaq:KDLY), which was the largest capital raise to launch a Bitcoin Treasury Company and the largest private placement for any public bitcoin-related transaction ever. Al Abraaj aims to innovate on creating a Sharia'a compliant vehicle to give the Islamic world broader exposure to Bitcoin. Investors across Bahrain, Saudi Arabia, UAE, Kuwait, Qatar, and Oman can now access Bitcoin through a publicly traded stock. In fact, almost anyone in the world can buy ABRAAJ stock by registering with the Bahrain Bourse. Al Abraaj Restaurants Group B.S.C. (Ticker: ABRAAJ) ('Company'), a public listed company on the Bahrain Bourse, is pleased to announce that it has purchased Bitcoin for its balance sheet, becoming the first publicly traded company in the Kingdom of Bahrain, the Gulf Cooperation Council ('GCC'), and the Middle East to acquire Bitcoin as a treasury asset. This initiative marks a significant step in the company's commitment to innovation and diversification. Al Abraaj has acquired an initial amount of 5 Bitcoin. In alignment with the evolving financial landscape and the growing institutional interest in Bitcoin, Al Abraaj will build on this initial purchase and begin allocating a significant portion of its corporate treasury into Bitcoin. Al Abraaj considers Bitcoin to be its reserve treasury asset. Al Abraaj is a profitable company, with 2024 EBITDA of USD $12.5 million. This move is designed to enhance the company's asset portfolio and capitalize on emerging opportunities within the capital markets. Al Abraaj aims to innovate with shari'a compliant financial instruments to give the Islamic world broader exposure to Bitcoin. The Company has partnered with 10X Capital, the NYC-based investment firm with a track record of managing treasury assets for publicly listed companies, and advising and capitalizing listed Bitcoin Treasury Companies, including most recently advising Nakamoto on its $710M financing (Nasdaq:KDLY), the largest capital raise to launch a Bitcoin Treasury Company and the largest private placement for any public bitcoin-related transaction ever. In collaboration with 10X, the Company plans to raise capital to acquire additional Bitcoin, with a goal of maximizing Bitcoin per share. The decision to begin purchasing Bitcoin as a treasury asset follows comprehensive due diligence and aligns with the innovative regulatory framework established by the Central Bank of Bahrain (CBB). Al Abraaj Restaurants Group B.S.C. is committed to full compliance with all applicable laws and regulations, including those pertaining to digital asset transactions and disclosures. 'Our initiative towards becoming a Bitcoin Treasury Company reflects our forward-thinking approach and dedication to maximizing shareholder value,' said Abdulla Isa, Chairman of the Bitcoin Treasury Committee of Al Abraaj Restaurants Group B.S.C.. 'We believe that Bitcoin will play a pivotal role in the future of finance, and we are excited to be at the forefront of this transformation in the Kingdom of Bahrain. 10X is a proven leader in advising and bringing capital to listed Bitcoin Treasury Companies, and we welcome their partnership in helping us build the MicroStrategy of the Middle East.' 'I'd like to congratulate Abdalla Isa and the team at Al Abraaj for adopting Bitcoin at the corporate treasury level, finally enabling anyone in the GCC with a brokerage account to gain Bitcoin exposure,' said Hans Thomas, CEO of 10X Capital. 'Bahrain continues to be a leader in the Middle East in Bitcoin adoption, backed by a forward-thinking regulatory framework.' Mr. Thomas added, 'The GCC, with a combined GDP of $2.2 trillion—larger than Canada, Russia, Italy, Brazil, Australia, South Korea, or Spain—over $6 trillion in sovereign wealth funds, and a population of just 57.6 million, has until now lacked a publicly listed Bitcoin treasury company like Strategy (Nasdaq: MSTR), Tesla (Nasdaq: TSLA), or Metaplanet (Tokyo: 3350.T). That changes today with ABRAAJ's historic Bitcoin purchase, giving investors across Bahrain, Saudi Arabia, UAE, Kuwait, Qatar, and Oman access to Bitcoin through a publicly traded stock. In fact, almost anyone in the world can buy ABRAAJ stock by registering with the Bahrain Bourse.' Al Abraaj Restaurants Group B.S.C. will implement robust custody, portfolio risk management and governance policies to oversee its Bitcoin holdings, including by creating a Bitcoin Committee that will consist of experienced Bitcoin investors and portfolio managers and global capital markets experts. The company intends to provide regular updates to shareholders and stakeholders regarding its Bitcoin-related activities. This strategic initiative underscores Al Abraaj Restaurants Group B.S.C.'s commitment to innovation, diversification, and long-term growth. The company looks forward to contributing to the development of Bahrain's digital economy and establishing its position as a leader in the region's financial sector.
Zawya
15-05-2025
- Business
- Zawya
Al Abraaj Restaurants Group announces it has become the first Bitcoin treasury company in the Middle East
The publicly listed Bahrain Bourse Company has partnered with 10X Capital to adopt a Bitcoin Treasury strategy similar to MicroStrategy and Metaplanet, with the aim of providing Sharia'a compliant exposure to Bitcoin for the Islamic world. Al Abraaj made a historic initial purchase of Bitcoin for its corporate treasury, becoming the first publicly listed company in the Middle East to adopt a Bitcoin treasury strategy Al Abraaj is the first publicly listed company in the Gulf Cooperation Council (GCC) and the Middle East to adopt a Bitcoin Treasury strategy, similar to MicroStrategy (Nasdaq:MSTR) and Tesla (Nasdaq: TSLA), and Metaplanet (Tokyo: 3350.T) which was the best performing stock in the world in 2024. Al Abraaj has partnered with 10X Capital ('10X'), and plans to raise capital to buy additional Bitcoin for its treasury to increase its new KPI of Bitcoin per share 10X is a NYC-based investment firm focused on the Bitcoin Treasury space, who most recently advised Nakamoto on its $710M fundraise (Nasdaq:KDLY), which was the largest capital raise to launch a Bitcoin Treasury Company and the largest private placement for any public bitcoin-related transaction ever. Al Abraaj aims to innovate on creating a Sharia'a compliant vehicle to give the Islamic world broader exposure to Bitcoin. Investors across Bahrain, Saudi Arabia, UAE, Kuwait, Qatar, and Oman can now access Bitcoin through a publicly traded stock. In fact, almost anyone in the world can buy ABRAAJ stock by registering with the Bahrain Bourse. Manama, Kingdom of Bahrain – Al Abraaj Restaurants Group B.S.C. (Ticker: ABRAAJ) ('Company'), a public listed company on the Bahrain Bourse, is pleased to announce that it has purchased Bitcoin for its balance sheet, becoming the first publicly traded company in the Kingdom of Bahrain, the Gulf Cooperation Council ('GCC'), and the Middle East to acquire Bitcoin as a treasury asset. This initiative marks a significant step in the company's commitment to innovation and diversification. Al Abraaj has acquired an initial amount of 5 Bitcoin. In alignment with the evolving financial landscape and the growing institutional interest in Bitcoin, Al Abraaj will build on this initial purchase and begin allocating a significant portion of its corporate treasury into Bitcoin. Al Abraaj considers Bitcoin to be its reserve treasury asset. Al Abraaj is a profitable company, with 2024 EBITDA of USD $12.5 million. This move is designed to enhance the company's asset portfolio and capitalize on emerging opportunities within the capital markets. Al Abraaj aims to innovate with shari'a compliant financial instruments to give the Islamic world broader exposure to Bitcoin. The Company has partnered with 10X Capital, the NYC-based investment firm with a track record of managing treasury assets for publicly listed companies, and advising and capitalizing listed Bitcoin Treasury Companies, including most recently advising Nakamoto on its $710M financing (Nasdaq:KDLY), the largest capital raise to launch a Bitcoin Treasury Company and the largest private placement for any public bitcoin-related transaction ever. In collaboration with 10X, the Company plans to raise capital to acquire additional Bitcoin, with a goal of maximizing Bitcoin per share. The decision to begin purchasing Bitcoin as a treasury asset follows comprehensive due diligence and aligns with the innovative regulatory framework established by the Central Bank of Bahrain (CBB). Al Abraaj Restaurants Group B.S.C. is committed to full compliance with all applicable laws and regulations, including those pertaining to digital asset transactions and disclosures. "Our initiative towards becoming a Bitcoin Treasury Company reflects our forward-thinking approach and dedication to maximizing shareholder value," said Abdulla Isa, Chairman of the Bitcoin Treasury Committee of Al Abraaj Restaurants Group B.S.C.. "We believe that Bitcoin will play a pivotal role in the future of finance, and we are excited to be at the forefront of this transformation in the Kingdom of Bahrain. 10X is a proven leader in advising and bringing capital to listed Bitcoin Treasury Companies, and we welcome their partnership in helping us build the MicroStrategy of the Middle East." 'I'd like to congratulate Abdalla Isa and the team at Al Abraaj for adopting Bitcoin at the corporate treasury level, finally enabling anyone in the GCC with a brokerage account to gain Bitcoin exposure,' said Hans Thomas, CEO of 10X Capital. 'Bahrain continues to be a leader in the Middle East in Bitcoin adoption, backed by a forward-thinking regulatory framework.' Mr. Thomas added, 'The GCC, with a combined GDP of $2.2 trillion—larger than Canada, Russia, Italy, Brazil, Australia, South Korea, or Spain—over $6 trillion in sovereign wealth funds, and a population of just 57.6 million, has until now lacked a publicly listed Bitcoin treasury company like Strategy (Nasdaq: MSTR), Tesla (Nasdaq: TSLA), or Metaplanet (Tokyo: 3350.T). That changes today with ABRAAJ's historic Bitcoin purchase, giving investors across Bahrain, Saudi Arabia, UAE, Kuwait, Qatar, and Oman access to Bitcoin through a publicly traded stock. In fact, almost anyone in the world can buy ABRAAJ stock by registering with the Bahrain Bourse.' Al Abraaj Restaurants Group B.S.C. will implement robust custody, portfolio risk management and governance policies to oversee its Bitcoin holdings, including by creating a Bitcoin Committee that will consist of experienced Bitcoin investors and portfolio managers and global capital markets experts. The company intends to provide regular updates to shareholders and stakeholders regarding its Bitcoin-related activities. This strategic initiative underscores Al Abraaj Restaurants Group B.S.C.'s commitment to innovation, diversification, and long-term growth. The company looks forward to contributing to the development of Bahrain's digital economy and establishing its position as a leader in the region's financial sector. About Al Abraaj Restaurants Group B.S.C. Al Abraaj Restaurants Group B.S.C. is a 38-year old, profitable hospitality firm listed on the Bahrain Bourse. The company is dedicated to delivering value to its shareholders through strategic investments and innovative financial solutions. For more details, please contact: BTC@ About 10X Capital 10X Capital is a New York-based investment firm, and one of the most active technology investors globally, aligning Wall Street with Silicon Valley, and beyond. Founded by pioneering digital currency and fintech entrepreneur Hans Thomas (founding team, InternetCash), senior leadership includes Dr. Russell Read (former CIO, CalPERS, Alaska Permanent Fund, Gulf Investment Corporation), Austin Alexander (NY Bitcoin Center, Kraken), Alexander Monje (DWAC - Nasdaq:$DJT), and Max Staedtler (Goldman Sachs, Coinbase listing). With capabilities in asset management, treasury management, and investment banking, the firm takes a holistic merchant banking approach to Digital Assets Treasury Companies, to help develop capital markets strategies with global reach. 10X's Bitcoin-related portfolio companies include Bitwise, Bitpay, Valkyrie (acquired by Coinshares), Makara (acquired by Betterment), PrimeBlock (acquired by Cleanspark) and Worldcoin. For more information, visit
Daily Tribune
13-05-2025
- Business
- Daily Tribune
AlAbraaj Announces Strong Profits
TDT | Manama AlAbraaj Restaurants Group B.S.C. has announced a strong start to the year, reporting sustained profitability and advancing its strategic expansion plans. The company's Board of Directors met on Monday and approved a dividend payout of 60 percent of first quarter profits to shareholders, underlining its confidence in the business outlook. Solid financials The group recorded a net profit before associated income of BD146,982 for the three months ended March 31, reflecting a 1.8 percent increase compared to the same period last year. Net profit after associated income rose by 7.1 percent to BD125,810. Revenue for the quarter reached BD3,582,260, reflecting the anticipated seasonal impact of Ramadan and the temporary refurbishment of two outlets, both of which have since successfully resumed operations. Total assets stood at BD27,318,014 with total equity holding firm at BD14,519,517, demonstrating the company's strong balance sheet and financial stability. Expansion initiatives AlAbraaj Restaurants Group is pushing ahead with an aggressive expansion strategy. Three new outlets have opened in Bahrain, including the Camel Club Café at Al Liwan in Hamala on Monday, Lumee at Bahrain City Centre, and Orso, a new Italian dining concept, at The Avenues Bahrain. Additionally, the group has established a wholly owned subsidiary in Saudi Arabia, with plans to open a flagship restaurant in Riyadh in 2026. The regional footprint was further strengthened with the launch of a YaSalam franchise at Jeddah Airport in March. Cost management success Despite challenging market conditions, the company has maintained profitability through stringent cost control measures. Finance costs were reduced by 27.22 percent, supported by a strategic partial principal payment of BD3 million following the company's IPO. AlAbraaj said these measures reflect its commitment to financial discipline while pursuing growth across Bahrain and the wider GCC region. The company remains confident in its ability to leverage its strong financial position to support ongoing investments and expansion plans. The group announced that all branches across Bahrain are fully operational, following successful refurbishments that enhanced service offerings and improved customer experience during the first quarter. AlAbraaj celebrated the opening of three new outlets in Bahrain, reflecting its commitment to introducing fresh concepts and strengthening its leadership position in the Kingdom's dynamic dining scene. The company's establishment of a wholly owned subsidiary in Saudi Arabia was described as a major step forward in its regional expansion strategy, with the upcoming Riyadh flagship restaurant poised to anchor its growing footprint in the Kingdom. AlAbraaj reaffirmed that its substantial asset base and strong equity levels provide a powerful platform to support its ambitious growth agenda, allowing it to capitalise on emerging opportunities and deliver sustained value to stakeholders.
