GFH to cross list its shares on ADX in May

Bahrain investment bank GFH Financial Group is planning to list on the Abu Dhabi Securities Exchange (ADX) in May, it said in a statement on Sunday.

The move will mark the group’s fourth regional listing on bourses of Bahrain, Dubai, and Kuwait.

Hisham Alrayes, chief executive of GFH, said the company’s shares would now have more liquidity with this move. It will benefit stakeholders and enable the company to reach a wider base of institutional and retail investors who trade on the exchange.

The company will become the first issuer that listed on four main Gulf Cooperation Council (GCC) stock exchanges, Alrayes added.

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.