Bahraini telecoms group Batelco is planning to become the first company to have a dual listing of shares on the Saudi Stock Exchange (Tadawul) and the Bahrain Bourse, people familiar with the matter have informed Bloomberg. Batelco has reportedly hired the investment arm of Samba Financial Group as an adviser on the deal, the sources said, asking not to be identified as the information is private.
According to the news agency, the Saudi Stock Exchange is the largest and most actively traded in the Gulf region. Saudi Arabia’s bourse has been trying to encourage Middle Eastern firms to dual list for years, without success.
TeleGeography notes that Batelco’s shares have been listed on the Bahrain Bourse – also called the Bahrain Stock Exchange (BSE) since February 2006.