Dubai – Mubasher: GFH Group on Thursday announced that its liquidity provision arrangement (LP) with SICO will commence as of 18 February 2019 and ends on 28 May 2019.

Any further extension will be subject to regulatory approval, according to the group’s filing to the Dubai Financial Market (DFM).

On Wednesday, the group announced appointing SICO to act as liquidity provider for its shares listed on the DFM.

GFH, listed on the Bahrain Bourse (BHB), Boursa Kuwait, and the DFM, also said that the LP account maintained with SICO will have share inventory of 55,865,000 shares and AED 20 million will be deposited for further acquisition of shares.

“Both the share inventory and cash deposit will originate from GFH’s existing treasury share buyback program,” the statement highlighted.

 By 12:39 am UAE time, GFH Group’s stock rose 1.3% at AED 0.94.