GFH Financial Group B.S.C. Appoints SNB Capital as Financial Advisor: A Strategic Move Towards Tadawul Cross-Listing

GFH Financial Group B.S.C., a renowned financial group in the GCC region, has made a significant announcement on February 15, 2024. The Group has appointed SNB Capital as its financial advisor, marking a significant stride towards the cross-listing of the company's shares on the Saudi Stocks Exchange (Tadawul). This decision comes in the wake of shareholder approval on April 3, 2022, and is subject to Tadawul's approval and compliance with all listing rules. The announcement was made by Mariam Jowhary, Head of Compliance & AML at GFH Financial Group. Established in 1999, GFH Financial Group has been a pioneer in the Islamic investment banking services sector. With a diversified offering and a strategic investment approach, the Group has been recognized internationally for over a decade. The potential cross-listing on Tadawul can be seen as a strategic move to expand its investor base and increase its market presence. However, the cross-listing is not a guarantee, and the final decision rests with Tadawul. The Group has assured its shareholders that they will be informed of any further developments in this regard. As of now, the Group's market cap stands at 3,602,638,208, with a 3-month yield and a 1-month yield of 0.06%. Given the current circumstances and the potential cross-listing, it is recommended that current and potential investors hold their positions. The Group's future performance will largely depend on the success of the cross-listing and its ability to attract new investors, which is still uncertain. Therefore, a neutral stance is suggested until further developments are announced.