Bahrain-based GFH plans listing on Tadawul, ADX
Follow-ups -eshrag News:
RIYADH: Bahrain-based Islamic investment bank GFH Financial Group is considering listing on the Saudi stock exchange, Tadawul, and Abu Dhabi Securities Exchange, ADX, Argaam reported on Sunday.
The financial group will reportedly discuss the option with its shareholders at the general meeting scheduled on March 20.
In a filing to Bahrain bourse, the company said shareholders will mandate the board of directors to complete the listing process and issuance of relevant documents and licenses, including setting the stock listing price.
According to Argaam, shareholders will vote on carrying forward $8.422 billion of 2021 net profit to the legal reserve, as well as allocating $1.483 billion to the non-profit, civil society organizations, and zakat fund. They will also discuss carrying forward $1.431 billion as retained earnings.
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