Mubasher: Kuwait-based Gulf Investment House (GIH) aims to list three affiliate companies on the Abu Dhabi Securities Exchange (ADX) and another company on the Saudi Stock Exchange (Tadawul), Emirates News Agency (WAM) cited the company’s Chairman, Abdulaziz Asaad Abdel Aziz Al Sanad.

The period for listing affiliate companies on ADX and Tadawul varies between one and two years from now, Al Sanad said, noting that the companies mentioned above operate in various sectors, including real estate, industry, retail, and investment. 

Last week, GIH was listed on ADX, a key regional market that attracts capital and foreign investment. The company has been also listed on Boursa Kuwait since 2002 and its market value amounts to AED 1.96 billion.

The company, which was the first Kuwaiti company to be listed on ADX since the launch of Boursa Kuwait, intends to list on another market by the end of 2023 or early 2024.

Al Sanad highlighted the company’s plans to establish economic partnerships with the private sector, help advance the economy, and engage in various projects in Abu Dhabi.

GIH’s activities mainly focus on direct investments, and its investments are distributed in Kuwait, the UAE, Saudi Arabia, Bahrain, Oman, Morocco, and India, with a paid capital of KWD 40.649 million, distributed through 406.495 million shares with a nominal value of 100 Kuwaiti fils.