Bahrain Bourse, a self-regulated multi-asset marketplace, announced on 6th October, 2022 the cross-listing and commencement of trading of Kuwait-based Kuwait Finance House K.S.C.P., under the trading symbol ‘KFH’. To commemorate the commencement of trading of KFH shares, a ringing bell ceremony was held in the presence of Minister of Industry and Commerce & Minister in Charge of Bahrain Bourse, HE Mr. Zayed R. Alzayani, and Chairman of Kuwait Finance House (KFH), Mr. Hamad Abdulmohsen Al Marzouq and executive management of KFH along with CEOs of listed companies, representatives from the CBB, Board Members, and executive management of Bahrain Bourse.
Shaikh Khalifa bin Ebrahim Al-Khalifa, CEO of Bahrain Bourse, commented, “We are pleased to onboard the cross-listing of Kuwait Finance House K.S.C.P. The listing is a significant step toward achieving our strategic goals of attracting new companies from leading financial institutions, and is set to further expand Bahrain Bourse’s investor base and enhance liquidity in the market.”
“Bahrain Bourse plays an important and crucial role in the Kingdom’s economic diversification initiatives, as we look forward to attract additional leading companies, and enhance the capital market ecosystem.” Shaikh Khalifa added.
On his part, Mr. Hamad Abdulmohsen Al Marzouq, Chairman of Kuwait Finance House (KFH) commented: “I am pleased with the successful cross-listing of KFH shares on Bahrain Bourse. The cross-listing will enhance liquidity in the market, and contribute to the positive activity of both markets, allowing access to more potential investors and more capital raising opportunities given that KFH shares are being traded in more than one market worldwide.”
Mr. Al Marzouq expressed his sincere gratitude to the trust given by the shareholders and investment community, thanking Bahrain Bourse, Kuwait Clearing Company (KCC), Bahrain Clear, Capital Markets Authority and all the respective Kuwait regulatory authorities and Bahrain’s regulatory authorities who granted their approval to complete the acquisition process. Mr. Al Marzouq also praised the efforts of local and international consultants and SICO, in addition to the acquisition team who spared no effort to complete this major cross-border merger which increases the capital base of KFH to more than $10 billion and strengthens the standing of Kuwait and Bahrain as prestigious financial hubs in the GCC region.”
Najla Al Shirawi, CEO of SICO, congratulated KFH on the successful acquisition and listing on the Bahrain Bourse, commenting that, “SICO is proud to have been chosen by KFH as the Bahrain receiving agent, Bahrain execution advisor, and cross-listing advisor on this landmark deal. Our investment banking team utilized their regional know-how and expertise in executing M&A deals to seamlessly carry out this transaction. The cross-listing of KFH on Bahrain Bourse allows investors who previously owned AUB shares in Bahrain to trade their newly swapped KFH shares on the Bahrain Bourse through a local broker. And with access to both markets, investors will benefit from a more liquid trading environment.”
“I would also like to thank the Central Bank of Bahrain and the Bahrain Bourse for their timely support throughout this process and we wish the KFH team the best of luck as they embark on this new chapter,” she added.
KFH Shares will be traded in the regular market under the trading symbol (KFH) will be traded in USD on Bahrain Bourse in accordance with market procedures, and will be classified under the Non-Bahraini Companies Sector. Following this announcement, the total number of listed companies at Bahrain Bourse now stands at 43.
It is worth mentioning that Kuwait Finance House is licensed by the Central Bank of Kuwait as a locally incorporated bank operating as an Islamic bank and provides a wide range of banking Shari’a compliant products and services. KFH was established in 1977, and was listed on Boursa Kuwait in 1984. The authorized share capital of KFH is KWD 1.35 billion divided amongst 13,309,448,363 shares with a nominal par value of KWD 0.100 per share.
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About Bahrain Bourse
Bahrain Bourse is a self-regulated multi-asset marketplace operator established since 1987. Bahrain Bourse aims to offer to its investors, issuers, and intermediaries a comprehensive suite of exchange-related facilities including offering listing, trading, settlement, and depositary services for various financial instruments. We aim to offer our stakeholders with the best investment and trading solutions, and pair it with creative insights and problem solving skills to provide our investors, issuers, and intermediaries with valuable resources to meet their every expectation. Our key growth pillars underpins our way of conducting business and how we interact with our stakeholders: Origination, Innovation, Collaboration, and Pioneering Spirit, and all of them working together is what enables us to offer you with an “Oasis of Investment Opportunities”.
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