25.2 C
Dubai
Thursday, November 14, 2024
spot_img

GFH listed on the Abu Dhabi Stock Exchange (ADX)

[ad_1]

The Abu Dhabi Stock Exchange (ADX) today announced the secondary listing of GFH Financial Group BSC (GFH or Group). The listing will further expand GFH’s investor base and improve the liquidity of its shares amid the exchange’s increased regional and international participation.

To mark the occasion, ADX Managing Director and CEO Saeed Hamad Al Dhaheri and GFH Group CEO Mr Hisham Alrayes rang the opening bell at ADX and the group’s shares began trading under the ticker symbol “GFH”.

This is the fourth regional listing of GFH, whose shares are already listed and actively traded on the Bahrain Exchange, Kuwait Exchange and Dubai Financial Market. The listing comes as GFH continues to expand and transform growth, most recently completing the acquisition of a logistics warehouse with over $2 billion in assets in partnership with US-based SQ Asset Management, and divesting infrastructure and real estate assets. Currently, the group manages more than $15 billion in assets and funds, including a global portfolio of logistics, healthcare, education and technology in the MENA region, Europe and North America. This includes more than $2 billion in new investments in the past 12 months alone.

The listing of GFH on ADX brings the number of dual listings on the exchange to four. Shares in Ooredoo, Sudan Telecom Group and Omani and UAE investment holding companies are also undergoing secondary listings on the exchange.

comment list, Saeed Al Dhaheri, Managing Director and CEO of ADX, said: “As part of our ‘ADX One’ strategy to promote greater market liquidity, we have been actively encouraging listings in vibrant capital markets and building deeper links with regional markets including Bahrain Exchange. During this year The IPO and listing pipeline in our key and growth markets remained strong for the remainder of the year, a testament to our strength and resilience in the midst of global market volatility.”

Hisham Alrayes, CEO of GFH Group: “GFH is delighted to celebrate another milestone achievement for the Group with our listing on ADX. This is a strategic move to support our expansion and strengthen our financial position and funding for the next phase of growth. With our listing , we will continue to expand our shareholder base and increase our presence and visibility among key global and regional investors. Importantly, we have also highlighted the strong demand for GFH shares and market and investor interest in the group, our confidence in performance and prospects.”

In the first quarter of 2022, ADX recorded an 87% year-on-year increase in total transaction value in the first quarter of 2022. Exchange turnover (buy + sell) rose to AED202 billion in Q1 2022 from AED108 billion in Q1 2021. Meanwhile, the market value of shares owned by foreign investors in the first quarter of 2022 jumped 163% to AED131 billion from AED50 billion in the first quarter of 2021.

First Abu Dhabi Bank acted as its listing advisor and Al Tamimi & Company acted as its legal advisor, advising on the cross listing of GFH.

[ad_2]

Source link

Related Articles

Abu Dhabi Oil and Gas Summit Ignites Strategic Dialogues on Energy Security and Innovation Amid Regional Challenges

Abu Dhabi: The UAE’s oil and gas industry recently convened for its annual summit in Abu Dhabi, where top energy leaders discussed strategies for...

Abu Dhabi Leads Global Health Frontier: Largest-Ever WHO Emergency Medical Teams Meeting Unites 1,300 Experts Worldwide

Abu Dhabi recently marked a milestone in global health by hosting the largest-ever World Health Organization (WHO) Emergency Medical Teams (EMT) meeting. This pivotal gathering...

ADNOC Unveils Cutting-Edge AI Program: Transforming Efficiency and Innovation in Energy

ADNOC unveiling of its AI program marks a significant step forward in the digital transformation of the energy industry. Abu Dhabi National Oil Company (ADNOC)...

ADIPEC 2024 Unites Global Leaders in Abu Dhabi to Shape a Sustainable Energy Revolution

ADIPEC 2024 Ignites a Bold Vision for UAE’s Sustainable Energy Future: Global Leaders Unite in Abu Dhabi to Drive Innovation and Shape a Greener...

From Vision to Reality How Harshit Aggarwal’s Novamax Industries is Redefining Cooling Solutions

In the fast-evolving world of startups, where passion meets perseverance, Harshit Aggarwal has carved out an impressive path with Novamax Industries LLP. Founded in...

Latest Articles