Monday 07, May 2018 by William Mullally

GFH hires Gulf International Bank ahead of Saudi stock listing

 

Bahrain investment firm GFH has hired Gulf International Bank.

The move is in order to cross-list its own listing in the Kingdom of Saudi Arabia, said GFH in a statement, adding the move must first be approved by the Bahrain Central Bank and the Saudi Arabian Capital Markets Authority.

The initial plans to list on the Saudi stock exchange Tadawul was first brought up last year, as the company stated plans to be more involved in KSA and its privitisation programme.
GFH has made a number of key moves lately, also announcing their plans to increase their assets to $30 billion by end-2020 both organically and non-organically, a large rise from the $6.2 billion it currently is managing. It acquired an 85 percent stake in the Entertainer, a homegrown GCC app which provides discounts across various hospitality outlets.

 

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