Hisham Al-Rayes, CEO of GFH Financial Group, said that the group has submitted an official request to list its shares in the Saudi capital market.
According to the Bahraini newspaper, Al-Ayyam, the company has opened an office in Saudi Arabia as part of its plan to expand in the most important markets in the Gulf region.
Al-Rayyes predicted that the group’s shares will be listed on the Saudi stock market in the list of double-listed companies during the current year 2019 after completing the procedures and regulatory approvals.
He pointed out that the group appointed a Saudi financial advisor to determine the size of the target share to be included and earn better liquidity and investment opportunities.
It is noteworthy that the group is currently listed on 3 financial markets, namely Bahrain Stock Exchange, Kuwait Stock Exchange and Dubai Financial Market.
Regarding the group's plans to acquire and expand, Al-Rayyes said that it intends to launch an educational platform and invest about $ 200 million in acquisitions of 6 educational schools in the Gulf region, one of which is in Bahrain, one in Dubai, and 4 schools in Saudi Arabia.
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