Bahrain’s GFH considers listing shares in Saudi Arabia

Bahrain-based GFH Financial on Monday said it is considering listing its shares in the Saudi Arabian market. The move, however, remains subject to obtaining relevant regulatory approvals, the investment bank said in a bourse statement.

The statement did not specify a timeline for the listing, or the size.

GFH is currently listed in home country and in Dubai. It had moved to delist from Kuwait Stock Exchange last year, after noting the listing as “unfeasible due to the conflicting regulatory requirements of the Capital Markets Authority of Kuwait and the Central Bank of Bahrain.”

As part of its reform program, Saudi Stock Exchange (Tadawul) is planning to allow GCC-based companies to cross-list on the exchange starting next year, chairperson of Tadawul Sarah Al-Suhaimi has said at the Future Investment Initiative conference last week.