Officials during the Gulf Investment House’s listing on ADX.
Abu Dhabi Securities Exchange (ADX) achieved its fifth dual listing with the market debut on Friday of Gulf Investment House (GIH), a Kuwait-based financial services company.
The dual listing on ADX allows GIH to expand its investor base and liquidity in its shares. The company, which invests in real-estate properties and direct investments, has been listed on the Kuwait Boursa since May 2002 and has a market capitalisation of Dhs1.96 billion.
The Chairman of the Board of Directors of Gulf Investment House, Abdulaziz Asaad Alsanad announced that: GIH inaugurates a new historical milestone in its journey represented in the inclusion of the company’s shares on ADX, one of the most important and prominent regional markets, which has a market capitalization of more than Dhs2.2 trillion.
It is the first Kuwaiti company since the inception of the Kuwait Boursa to be listed in Abu Dhabi.
Alsanad stressed that our aspirations in the Board of Directors of GIH are large and high, as Abu Dhabi represents an opportunity towards integration into a dynamic and diversified investment and economic environment characterized by high flexibility of growth and vast economic horizons full of opportunities. Which aspires us to establish an economic partnership with the private sector there, contribute to the growth and development of the economy, and enter into various projects.
With GIH having subsidiaries and associates covering various economic activities, it gives us flexibility and openness to various economic sectors in Abu Dhabi and benefit from keeping pace with the effective transformation plan in the economic base of the country, which has a firm commitment to building a sustainable, diversified and value-added economy. We were encouraged to be present in a market that reflects a qualitative economy that seeks diversification and capacity building in modern economic sectors.