Bahrain’s GFH awaiting CMA nod for Tadawul listing, says CEO

17/12/2017 Argaam

 

Bahrain-based GFH Financial Group is in talks with the Saudi Capital Market Authority (CMA), the Kingdom’s market regulator, to obtain approval for listing on Tadawul in 2018, UAE-based Al-Bayan newspaper reported on Sunday, citing chief executive, Hisham Alrayes.

 

The group is working on completing the required paperwork to join the Saudi bourse as the first foreign firm in the market.

 

Meanwhile, Alrayes has not specified a timeline for the target listing, adding that the group is still waiting for an approval from the Saudi regulatory authorities.

 

Alrayes also shrugged off plans for cross listing on international markets.

 

Last November, the financial group said it was considering listing its shares in the Saudi Arabian market, driven by the reforms witnessed in the Kingdom, Argaam reported.

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