Bahrain-based GFH Financial Group (GFH) said that the targeted cross listing of its shares on the Abu Dhabi Securities Exchange (ADX) is expected to take place in May 2022 subject to the final regulatory approvals.
This will be the Group’s fourth regional listing, with GFH shares already actively traded on the Bahrain Bourse (BHB), Dubai Financial Market (DFM) and Boursa Kuwait (BK).
The move is expected to further enhance liquidity in GFH’s shares, benefiting shareholders, and enable the Group to gain access to a broader base of retail and institutional investors that trade on the exchange.
ADX is one of the most attractive and largest GCC exchanges in terms of liquidity, trading volumes and shareholder return. It also ranked first among GCC exchanges in 2021 for the highest year-on-year increase in trading volumetrics.
Hisham Alrayes, CEO of GFH, said: “We are delighted to announce another significant milestone for the Group by listing GFH shares on ADX, which is considered one of the most vibrant and fast-growing markets in the GCC. We are set to become the first issuer to be listed on four main GCC stock exchanges and our aim is to continue to enhance the liquidity of our shares, our investor mix and to ensure the highest levels of disclosure and transparency for the benefit of shareholders.
“In line with our strategy, we also look forward to achieving a more entrenched presence in Abu Dhabi, tapping into growth both on ADX and in the local economy. With this listing, we will be better positioned to serve our existing shareholders in UAE and Abu Dhabi and to attract new ones from among ADX’s sizable retail and institutional investor base.”
Current shareholders of the Group will also be able to transfer shares from existing markets where they hold shares to ADX.
Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).