Bahrain-based leading financial group GFH Financial Group is planning to cross-list its shares on the Abu Dhabi Securities Exchange (ADX) in May.
According to the statement, “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).”
GFH said that the move is expected to further enhance liquidity in GFH’s shares. Further, it will 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.
Hisham Alrayes CEO – GFH
“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, and 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,” Mr. Alrayes further added.
As per the company, current shareholders of the Group will also be able to transfer shares from existing markets where they hold shares to ADX.
