Dubai – Mubasher: GFH Group on Wednesday revealed that it has appointed SICO to act as liquidity provider for its shares listed on the Dubai Financial Market (DFM).

The decision came after obtaining the approvals of the Capital Markets Supervision Directorate of the Central Bank of Bahrain and the DFM, the  Bahrain-based Islamic wholesale investment bank said in a statement.

GFH, listed on Bahrain Bourse (BHB), Boursa Kuwait, and the DFM, also said it has signed a $100 million agreement with a special purpose vehicle (SPV), owned by Terra Real Estate Investments LLC (Terra), with instrumental support from Abu Dhabi Financial Group (ADFG).

For the full-year 2018, the group posted an 11.4% year-on-year increase in its profits, logging $115 million, compared to $103.19 million.

By 11:17 am UAE time, GFH’s stock jumped 4.12% at AED 0.94.