Mubasher: GFH Financial Group will begin the cross-listing of its shares on Abu Dhabi Securities Exchange (ADX) in May 2022 upon the final regulatory approvals, the group announced on Sunday.

The listing on ADX will be GFH’s fourth regional listing as its shares are already traded on Bahrain Bourse, Dubai Financial Market (DFM), and Boursa Kuwait.

GFH expects the cross trading on ADX to boost liquidity in its shares, benefit the shareholders, and enable the entity to have a broader base of retail and institutional investors that are trading on ADX, which ranked first among GCC stock markets in 2021 for having the highest annual surge in trading volumetrics.

CEO of GFH, Hisham Alrayes, said, “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.”

Alrayes added: “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.”

The Bahraini group also plans to list its shares on the Saudi Exchange (Tadawul) as announced earlier this month.