GFH Capital mulls listing on Saudi market, has $5 bln AUMs: CEO

CEO Razi Al Murbati

GFH Capital is considering the offering of its unit in Saudi Arabia on the Saudi Exchange (Tadawul), amid the several share listings by financial institutions, CEO Razi Al Murbati told Argaam.

GFH Group's plans are unchanged with regard to listing in other markets, he added.

In an interview with Argaam, on the sidelines of the seventh edition of the Future Investment Initiative in Riyadh, the CEO highlighted that the group is listed on the stock exchanges of Bahrain, Dubai, Abu Dhabi and Kuwait, indicating that it has $5 billion worth of assets and assets under management in the Kingdom, and that the company plans to boost them in the coming period.

Moreover, the company focuses on investing in the logistics, health and educational sectors, and also sets its eyes on investing in the region and the Kingdom in particular.

He revealed that GFH is in advanced talks with a company operating in the medical sector, which has presence in secondary cities in the Kingdom.

There are renewed opportunities in the logistics and real estate sectors after the announcement of specialized logistics zones, as well as growth in e-commerce. GFH is looking for opportunities for growth and additional acquisitions in the educational sector to expand its portfolio, according to Al Murbati.

As for the acquisition of a food and logistics services company and a medical center, the CEO explained that GFH seeks through these acquisitions to boost its presence, adding that it focuses its business in Riyadh and is present in the Eastern Province and Jeddah, and plans to expand into new cities.

The top official also said that Helian Medical, which was acquired by GFH, has one of the largest hospitals in the Southern Province, indicating that GFH will focus on acquisitions in the healthcare sector in the coming period.

GFH Financial Group announced yesterday that the listing plans in the Saudi market are not new and were previously announced and submitted to shareholders at their general assembly meeting in 2021 and were approved by them in April 2022. It also indicated that it is continuing with finding solutions and fulfilling the regulatory requirements prior to listing in order to achieve the vision of its shareholders in this regard, according to Argaam's data.