GFH
GFH
GFH
Bahrain's Gulf Finance House announced that it has raised its capital from $ 1.13 million to $ 1.15 million through issuing 128.726 million shares.
In early August the lender had obtained the ordinary and extraordinary general meeting's approval over capital hike, said GFH in a statement to Bahraini bourse.
Noteworthy, GFH has raised its capital for the fifth time in less than one month in addition its EGM had previously approved cutting down the Bank’s capital from $972.3 million to $837.9 million. Moreover, it had approved issuing a Sukuk program or new facilities worth $500 million for the restructuring of Bank’s current liabilities as well as developing projects and carrying out several acquisitions, provided that such facilities could be converted to ordinary shares following the approval of the Central Bank of Bahrain (CBB).
In early August the lender had obtained the ordinary and extraordinary general meeting's approval over capital hike, said GFH in a statement to Bahraini bourse.
Noteworthy, GFH has raised its capital for the fifth time in less than one month in addition its EGM had previously approved cutting down the Bank’s capital from $972.3 million to $837.9 million. Moreover, it had approved issuing a Sukuk program or new facilities worth $500 million for the restructuring of Bank’s current liabilities as well as developing projects and carrying out several acquisitions, provided that such facilities could be converted to ordinary shares following the approval of the Central Bank of Bahrain (CBB).
Source:
Mubasher
