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News

1 June 2022 10:41 AM Middle East-based telecom companies, Huawei jointly launch IntelligentRAN in region

Mubasher: Saudi Telecom Company (stc), Mobile Telecommunications Company (Zain), the telecoms pillar of e& in the UAE, Emirates Integrated Telecommunications Company (du), and Huawei have jointly launched IntelligentRAN in the Middle East. Through …

Companies Investments

1 June 2022 10:08 AM Agility's EGM nods to capital raise

Mubasher: The extraordinary general meeting (EGM) of Agility Public Warehousing has approved to raise the company's authorised capital to KWD 250 million from KWD 350 million. The shareholders have also agreed on increasing the company's issued …

General Assembly

17 May 2022 00:00 PM GFH raises stake in GB Corp for $2m

Mubasher: GFH Financial Group has raised its stake in the investment company GB Corp to 62.91% from 50.41% through strategic swaps worth $1.7 million. The transaction will have a positive impact on GFH's financials, according to a bourse filing on …

Companies Investments

15 May 2022 04:51 PM GFH's profits up 18.5% in Q1-22

Mubasher: The net profits attributable to the shareholders of GFH Financial Group totalled $19.11 million in the first quarter (Q1) of 2022, an annual growth of 18.50% from $16.12 million. Total income edged up by 0.47% to $90.81 million in the …

Financial Results

9 May 2022 01:21 PM GFH acquires stake in US-based SQ Company

Mubasher: GFH Financial Group has signed an agreement to acquire a majority stake in the US-headquartered SQ Company, an asset and property manager that focuses on student housing. Through this acquisition, GFH will add 180 real estate …

Companies Investments

24 April 2022 03:22 PM GFH to start trading on ADX next month

Mubasher: GFH Financial Group will begin the cross-listing of its shares on Abu Dhabi Securities Exchange (ADX) in May 2022 upon the final regulatory approvals, the group announced on Sunday. The listing on ADX will be GFH’s fourth regional …

Trading Activities

13 April 2022 11:16 AM GFH's unit sells Tesco Distribution Centre for $135m

Mubasher: The UK-based Roebuck Asset Management, a subsidiary of GFH Financial Group, has sold a Tesco Distribution Centre in exchange for $135 million. Spanning over 540,000 square feet, the asset was established by Tesco in 2010 and has had …

Companies Investments

5 April 2022 02:23 PM GFH appoints new Chairman, Vice Chairman

Mubasher: GFH Financial Group has appointed Ghazi Al Hajeri as the group's Chairman effective 4 April 2022 and Edris Al Rafi as Vice Chairman. Al Hajeri, who has occupied the position of Vice Chairman since July 2021, has succeeded Jassim Al …

Trading Activities

4 April 2022 02:00 PM GFH approves shares cross-listing on Tadawul, ADX

Mubasher: The shareholders of GFH Financial Group gave the green light for cross-listing the entity’s shares on the Saudi Exchange (Tadawul) as well as Abu Dhabi Securities Exchange (ADX). During the ordinary and extraordinary general meeting …

General Assembly

3 April 2022 04:19 PM GFH's shareholders approve $60m dividends, bonus for 2021

Mubasher: The ordinary general meeting (OGM) of GFH Financial Group has agreed on a dividend distribution of $60 million for 2021. The dividends include cash profits for all ordinary shares of 4.57% of the nominal value, equivalent to $45 …

General Assembly

28 March 2022 09:28 AM GFH's unit issues $900m green Sukuk

Mubasher: Infracorp, the infrastructure and sustainability arm of GFH Financial Group, has issued a $900 million green Sukuk listed on London Stock Exchange. The first green Sukuk issued by a Bahraini entity reflects Infracorp’s objective to boost …

Sukuk and Islamic Finance

27 March 2022 03:27 PM Agility's unit inks $215m deal to acquire stake in HG Storage International

Mubasher: Tristar Transport, a subsidiary of Agility Public Warehousing, has reached a $215 million (KWD 65 million) agreement to acquire China-based HNA Group's 51% stake in HG Storage International Limited. HG Storage International is a joint …

Companies Investments

27 March 2022 02:50 PM Agility's net profits hike 2,251% in 2021

Mubasher: The net profits attributable to the equity holders of Agility Public Warehousing surged by 2,250.9% to KWD 977.42 million in 2021, compared to KWD 41.57 million in the previous year. The company generated revenues of KWD 486.15 million …

Financial Results

21 February 2022 01:34 PM GFH launches $100m Sukuk fund

Mubasher: GFH Financial Group has launched a $100 million Sukuk fund, which comprises a diversified portfolio of Sharia-compliant Sukuk including sovereign, quasi-sovereign, and corporate Sukuk and Sukuk-related securities. The fund was introduced …

Sukuk and Islamic Finance

17 February 2022 03:06 PM Agility's unit to acquire 13% stake in UK's John Menzies

Mubasher: Agility Strategies Holding Limited, a wholly-owned subsidiary of Agility Public Warehousing, will acquire a 13.20% stake in London Stock Exchange-listed John Menzies in exchange for GBP 73.40 million (KWD 30 million). Agility will …

Mergers and Acquisitions

10 February 2022 09:53 AM GFH posts 87% higher profits in 2021; dividends proposed

Mubasher: The net profits attributable to the shareholders of GFH Financial Group hiked by 86.77% to $84.22 million in 2021, compared to $45.09 million in the earlier year, according to the company's consolidated financials for the year ended 31 …

Board of Directors

6 February 2022 10:05 AM Al Mazaya turns to profitability in 2021

Mubasher: Al Mazaya Holding has achieved KWD 406,108 net profits attributable to the shareholders in 2021, against net losses of KWD 8.48 million in the previous year, according to the company's consolidated financials for the year ended 31 …

Financial Results

31 January 2022 10:01 AM GFH's unit completes exit from Amazon portfolio in Spain

Mubasher: Roebuck Asset Management, the European subsidiary of GFH Financial Group, has early completed its exit from the Amazon Last Mile Logistics Warehouses portfolio in Spain. Spanning over an area of around 140,000 square metres, the …

Companies Investments

17 January 2022 09:49 AM GFH to spin out infrastructure, real estate assets under Infracorp

Mubasher: GFH Financial Group will spin out its infrastructure and real estate assets under the recently-launched company Infracorp to boost the growth of sustainable and environmental infrastructure assets across the Gulf and global markets. The …

Companies Investments

3 January 2022 11:46 AM Ekttitab Holding to exit from public facilities management company

Mubasher: The board of Ekttitab Holding has approved the exit from its investments in AI Arabiya for Public Facilities Management Company. Ekttitab will sell its stake in the company in exchange for KWD 2.25 million, according to a bourse filing …

Companies Investments

21 December 2021 09:40 AM National Industries' EGM approves capital increase to KWD 300m

Mubasher: The extraordinary general meeting (EGM) of National Industries Group Holding, listed on the Dubai Financial Market (DFM) and Boursa Kuwait, has approved an increase in the authorised, issued, and paid-up capital to KWD 300 million from …

General Assembly

12 December 2021 06:20 PM GFH teams up with Wafra to acquire logistics assets in US

Mubasher: GFH Financial Group, listed on the Dubai Financial Market (DFM), Boursa Kuwait, and Bahrain Bourse, has partnered with Kuwait-Based Wafra International Investment Company to acquire a portfolio of US logistics assets leased to FedEx and …

Mergers and Acquisitions

30 November 2021 04:58 PM GFH acquires $200m medical offices in US

Mubasher: GFH Financial Group has purchased a portfolio of medical offices in the US in exchange for around $200 million, as part of the company's plan to build a portfolio of stabilised assets. With 11 assets, the medical portfolio spreads across …

Companies Investments

15 November 2021 01:10 PM GFH acquires 60% stake in UAE's multi-specialty healthcare provider

Mubasher: GFH Financial Group has acquired a 60% stake in the UAE-based Multi-Specialty Healthcare Partner Holding (MSH) in exchange for more than $100 million. With 19 healthcare clinics and two pharmacies across Al Ain, Abu Dhabi, Sharjah, and …

Mergers and Acquisitions

14 November 2021 05:37 PM Dual-listed Agility achieves jump in Q3, 9M net profits

Mubasher: Agility, the Kuwaiti supply chain services provider that is listed on the Dubai Financial Market (DFM) and Boursa Kuwait, recorded a leap of 5,952.4% in net profits to KWD 926.9 million during the third quarter (Q3) of 2021 from KWD 15.3 …

Financial Results