GFH Financial Group BSC (GFH)

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News

21 October 2018 10:11 AM GFH exits $60m Bahrain waterpark

Mubasher: GFH Financial Group on Sunday announced exiting a waterpark in a $60-million deal. The investment firm exited Lost Paradise of Dilmun Waterpark, which is located in Al Areen Development in the southern region of Bahrain. Located near the …

Company News

16 October 2018 00:04 PM GFH stock rises despite BHB’s downward performance on Tuesday

Mubasher: The stock of GFH Financial Group registered a rise despite the decline of Bahrain Bourse (BHB) on Tuesday. By 11:30 am Bahrain time, GFH gained 1.45%, hitting the highest trading volume of 1.48 million shares at a value of about KWD …

Stock Evaluations

10 October 2018 10:57 AM GFH intends to raise AUM to $15bn – Al Rayes

Mubasher: GFH Financial Group is planning to increase its assets under management (AUM) to $15 billion from $6.5 billion, the CEO of GFH Hisham Al Rayes said. Al Rayes confirmed GFH’s intention to invest in high-liquidity assets in the US where …

Corporate Actions

7 October 2018 09:05 AM Bahrain central bank nods to GFH property portfolio sale

Mubasher: GFH Group on Sunday announced receiving “conditional approval” from the Central Bank of Bahrain (CBB) regarding the offer received in the sale of the company’s real estate portfolio. The original announcement for the portfolio sale was …

Companies Investments

4 October 2018 01:48 PM GFH to exit up to $1bn real estate portfolio

Mubasher: GFH Financial Group (GFH) received an approval from the Central Bank of Bahrain (CBB) to exit a real estate portfolio at a value ranging from $600 million to $1 billion, CEO Hisham Ahmed Al Rayes told CNBC Arabia. Exiting this portfolio …

Real estate

2 October 2018 10:49 AM GFH Group acquires $200m sukuk from Al Rajhi Bank

Dubai – Mubasher: GFH Financial Group, listed on Bahrain Bourse, Boursa Kuwait, and the Dubai Financial Market (DFM), has signed an agreement to acquire $200 million sukuk of Villamar Company Limited from Al Rajhi Bank. The Islamic bonds were …

Companies Investments

26 September 2018 03:58 PM GFH to consider Q3 income statements mid-November

Mubasher: GFH Group will hold a board meeting on Sunday, 11 November to consider the financial statements for the third quarter of 2018, according to a recent bourse disclosure. In the first half of 2018, GFH achieved an increase in profits to …

Board of Directors

19 September 2018 09:37 AM GFH completes acquisition of 5% treasury shares

 Dubai – Mubasher: GFH Financial Group, listed on the Dubai Financial Market (DFM), Bahrain Bourse, and Boursa Kuwait, on Wednesday announced it has completed the acquisition of 5% of its total issued shares as treasury shares. The Bahrain-based …

Insider Trading & Treasury Stocks

5 September 2018 00:50 PM GFH’s stock gains 3% Wednesday on potential assets sale

Dubai – Mubasher: The stock of GFH Financial Group grew on Wednesday, leading the Dubai Financial Market (DFM) in terms of trading volume, following an announcement of a planned transaction to sell real estate assets. By 1:15 pm, UAE time, the …

Trading Activities

4 September 2018 10:14 AM GFH to sell real estate assets

Mubasher: GFH Financial Group  (GFH) has announced plans to sell some real estate assets, expecting to complete the deals prior to the end of 2018. GFH’s board of directors held a meeting on Monday for discussing the possibility of boosting …

Management Decisions

15 August 2018 11:10 AM Integrated Capital sells shares in GFH Group

Dubai – Mubasher: Integrated Capital Company has sold about 102 million of its shares in GFH Financial Group to a commercial bank in the UAE. The company has taken such a step in order to secure financial facilities, according to a bourse …

Banking and Finance

13 August 2018 03:29 PM GFH net profits grow to $72.5m in H1

Mubasher: GFH Financial Group (GFH) achieved an increase of 16.7% in net profits attributable to shareholders during the first half of 2018 compared to the same period a year ago. Earnings totalled $72.5 million in H1-18 compared to $62.1 million …

Financial Results

30 July 2018 07:03 PM GFH Group appoints Al Siddiqi as The Entertainer’s chairman

Dubai – Mubasher: GFH Financial Group has announced the appointment of Jassim Al Siddiqi as a chairman of the Entertainer,  the group said in a bourse statement. GFH Capital, a wholly-owned subsidiary of GFH Financial Group, partnered with Al …

Management Decisions

29 July 2018 11:15 AM GFH Financial Group settles $200m sukuk

Dubai – Mubasher: GFH Financial Group has announced that it fully paid the amount of $200 million sukuk. Drawn in 2007, the facility, which is scheduled to be paid in several tranches with its final maturity in July 2018, was settled by GFH after …

Sukuk and Islamic Finance

28 July 2018 11:53 PM GFH, Al Futtaim complete The Entertainer’s acquisition

Dubai - Mubasher: GFH Financial Group has partnered with Al Futtaim Group and Al Zarooni to acquire stakes in The Entertainer GFH Capital, owned by GFH Financial Group, has signed an investment agreement with Al Futtaim Group and Al Zarooni …

Mergers and Acquisitions

22 July 2018 08:43 AM GFH awards $150m EPC deal to major Chinese firm

Dubai – Mubasher: GFH Financial Group on Sunday announced awarding a major engineering, procurement, and contracting (EPC) deal to China Machinery and Engineering Corporation (CEMC) for its project in Dubai. The $150 million contract involves the …

Real estate

19 July 2018 09:48 AM Bahrain’s GFH denies exposure to Abraaj

Dubai – Mubasher: Bahrain-based GFH Financial Group has affirmed no exposure to the ailing private equity firm Abraaj Group. The group indicated it has signed an agreement to acquire Abraaj’s stake in The Entertainer, according to a statement to …

Corporate Actions

8 July 2018 03:33 PM GFH launches Indian project; 900 units sold

Mubasher: GFH Financial Group on Sunday inaugurated the first integrated township project in Navi Mumbai Airport Influence Notified Area (NAINA) at Panvel, under the name of Wadhwa Wise City. The project was launched in collaboration with The …

Companies Investments

8 July 2018 10:21 AM DIFC awards GFH $5.14m in David Haigh case

Dubai – Mubasher: GFH Financial Group (GFH) on Sunday announced that the Dubai International Financial Courts (DIFC) had concluded its decision regarding the David Haigh case and ruled in the company’s favour. The ruling is GFH’s in favour on all …

Law

7 July 2018 07:00 PM Fitch Ratings affirms GFH’s rating for long-term IDR at ‘B’, outlook stable

Mubasher: Fitch Ratings has affirmed the long-term Issuer default rating (IDR) for GFH Financial Group (GFH) at 'B’, with a stable outlook. The short-term rating IDR for GFH has also been affirmed at 'B', according to a statement issued late …

Ratings

20 May 2018 09:01 AM GFH Group recovers $22.5m in legal claims

Dubai – Mubasher: GFH Financial Group on Sunday announced reaching an agreement involving the settlement of one of its legal claims. Under the settlement, the Bahrain-based financial group will receive a cash amount of $22.5 million. This sum, …

Corporate Actions

13 May 2018 06:41 PM GFH posts $36.5m net profit in Q1

Dubai - Mubasher: GFH Financial Group has reported a 14% year-on-year increase in net profit attributable to shareholders during the first quarter of 2018, registering $36.48 million. The company’s consolidated revenue rose 17% to $60.45 million …

Financial Results

6 May 2018 11:00 AM GFH to raise managed assets to AED 110.2bn; confirms exit offer

Dubai – Mubasher: GFH Financial Group is planning to increase its assets under management (AUM) to AED 110.19 billion ($30 billion) by 2020 through organic and non-organic growth. The Dubai-, Bahrain-, and Kuwait-listed company confirmed …

Companies Investments

3 May 2018 11:21 AM GFH to invest $150m in The Entertainer

Mubasher: GFH Financial Group has disclosed an announcement, based on a request from the Dubai Financial Market (DFM), that the group and its clients will invest $150 million in The Entertainer, the incentives provider and lifestyle app. This …

Companies Investments

3 May 2018 10:57 AM GFH expects positive results in Q1; considers real estate exiting deal

Dubai – Mubasher: Chairman of GFH Financial Group Jassim Alseddiqi has expected that his company will report positive results for the first quarter of 2017 on the back of the real estate investments. The Dubai-listed group is targeting the …

Mergers and Acquisitions