Batelco, has hired the investment arm of Samba Financial Group as an adviser on the deal. No decision has been made and the company may decide against the dual listing. Saudi Arabia’s bourse has been trying to encourage Middle Eastern firms to dual list for years, without success. Aluminium Bahrain had considered a dual listing in 2014, but it never occurred.
Saudi exchange is the largest and most actively traded in the Gulf region. Trading volumes on other exchanges have languished, leading several firms to delist from bourses in Dubai and Bahrain. the exchange is reviewing cross-listings from companies in Bahrain and Abu Dhabi and two agreements were signed – with the Abu Dhabi Securities Exchange and the Bahrain Bourse.