Bahrain-based Islamic investment bank GFH Financial Group intends to list on the Saudi stock exchange, Tadawul, and Abu Dhabi Securities Exchange, ADX, according to media reports.
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.
It also involves issuance of relevant documents and licenses, including setting the stock listing price.
Shareholders will vote on carrying forward $8.422 billion of 2021 net profit to the legal reserve.
This includes 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.
