Abu Dhabi Securities Exchange Lists GFH Financial Group

ADX Managing Director and CEO Saeed Hamad al-Dhaheri and GFH’s Group Chief Executive Officer Hisham al-Rayes ringing the market-opening bell at ADX. (Asharq Al-Awsat)
ADX Managing Director and CEO Saeed Hamad al-Dhaheri and GFH’s Group Chief Executive Officer Hisham al-Rayes ringing the market-opening bell at ADX. (Asharq Al-Awsat)
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Abu Dhabi Securities Exchange Lists GFH Financial Group

ADX Managing Director and CEO Saeed Hamad al-Dhaheri and GFH’s Group Chief Executive Officer Hisham al-Rayes ringing the market-opening bell at ADX. (Asharq Al-Awsat)
ADX Managing Director and CEO Saeed Hamad al-Dhaheri and GFH’s Group Chief Executive Officer Hisham al-Rayes ringing the market-opening bell at ADX. (Asharq Al-Awsat)

Abu Dhabi Securities Exchange (ADX) announced on Tuesday the secondary listing of the Bahrain-based GFH Financial Group.

The listing is set to further expand GFH’s investor base and enhance liquidity in its shares amid increased regional and international participation on the exchange.

ADX Managing Director and CEO Saeed Hamad al-Dhaheri and GFH’s Group Chief Executive Officer Hisham al-Rayes rang the market-opening bell at ADX, where the Group’s shares began trading under the symbol “GFH”.

This is GFH’s fourth regional listing with its shares already listed and actively traded on the Bahrain Bourse, Boursa Kuwait and the Dubai Financial Market.

The listing comes as GFH undergoes continued expansion and transformational growth having recently partnered with SQ Asset Management Company in the United States, completed the acquisition of logistic warehouses with assets of more than $2 billion and spun out infrastructure and real estate assets.

According to the information obtained, the Group has over $15 billion of assets and funds under management including a global portfolio of investments in logistics, healthcare, education and technology in the MENA region, Europe and North America. This includes new investments of more than $2 billion over the past 12 months alone.

The listing of GFH on ADX brings the number of dual listings on the exchange to four. Shares of Ooredoo, Sudan Telecom Group and Oman and Emirates Investment Holding Company also have secondary listings on the exchange.

“As part of our 'ADX One' strategy to promote greater market liquidity, we have been actively encouraging listings on our dynamic capital market and forging deeper ties with regional markets, including the Bahrain Bourse,” Dhaheri stated.

“The IPOs and listings on our Main Market and Growth Market remain strong for upcoming months, a testament to our strength and resilience amid global market volatility.”

Rayes, for his part, said GFH is delighted to celebrate another landmark achievement for the Group with its listing on ADX.

“This is a strategic move supporting our expansion and enhancing our financial position and funding for the next phase of growth,” he added.

By taking this step, GFH continues to broaden its shareholder base and increase its reach and visibility among key global and regional investors.

“We also underscore the strong demand for GFH’s shares and the market and investor confidence that exists in the Group, our performance and prospects,” he concluded.

During Q1 2022, ADX recorded an 87% year-on-year increase in the value of total trades made during this period.

Traded values (buy + sell) on the exchange rose to AED202 billion ($54.9 billion) in Q1 2022 from AED108 billion ($29.3 billion) in Q1 2021.

Meanwhile, the market value of shares owned by foreign investors in Q1 2022 jumped 163% to AED131 billion ($35.6 billion) from AED50 billion ($13.6 billion) in Q1 2021.



Türkiye's Central Bank Lowers Key Interest Rate to 47.5%

A girl sells plastic items to people in the Kadikoy district in Istanbul, Türkiye, Saturday, Dec. 7, 2024. (AP Photo/Francisco Seco)
A girl sells plastic items to people in the Kadikoy district in Istanbul, Türkiye, Saturday, Dec. 7, 2024. (AP Photo/Francisco Seco)
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Türkiye's Central Bank Lowers Key Interest Rate to 47.5%

A girl sells plastic items to people in the Kadikoy district in Istanbul, Türkiye, Saturday, Dec. 7, 2024. (AP Photo/Francisco Seco)
A girl sells plastic items to people in the Kadikoy district in Istanbul, Türkiye, Saturday, Dec. 7, 2024. (AP Photo/Francisco Seco)

Türkiye’s central bank lowered its key interest rate by 2.5 percentage points to 47.5% on Thursday, carrying out its first rate cut in nearly two years as it tries to control soaring inflation.
Citing slowing inflation, the bank’s Monetary Policy Committee said it was reducing its one-week repo rate to 47.5% from the current 50%.
The committee said in a statement that the overall inflation trend was “flat” in November and that indicators suggest it is likely to decline in December, The Associated Press reported.

Demand within the country was slowing, helping to reduce inflation, it said.
Inflation in Türkiye surged in recent years due to declining foreign reserves and President Recep Tayyip Erdogan’s unconventional economic policy of lowering rates as a way to tame inflation — which he later abandoned.
Inflation stood at 47% in November, after having peaked at 85% in late 2022, although independent economists say the real rate is much higher than the official figures.

Most economists argue that higher interest rates help control inflation, but the Turkish leader had fired central bank governors for failing to fall in line with his previous rate-cutting policies.

Following a return to more conventional policies under a new economic team, the central bank raised interest rates from 8.5% to 50% between May 2023 and March 2024. The bank had kept rates steady at 50% until Thursday's rate cut.
The high inflation has left many households struggling to afford basic goods, such as food and housing.