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GFH will purchase the shares of KHCB through a shares exchange
17 October 11:31 AM GFH announces precondition satisfaction to acquire KHCB
Dubai – Mubasher: GFH Financial Group has announced the satisfaction of preconditions and firm intention to make an offer to acquire up to 100% of the issued and paid-up ordinary shares of  Khaleeji Commercial Bank (KHCB). GFH will purchase the …
The updated ratings reflect the group’s sound liquidity
7 October 08:43 AM CI upgrades GFH's corporate ratings; outlook stable
Dubai – Mubasher: Capital Intelligence Ratings has upgraded the long-term and short-term corporate ratings of GFH Financial Group at 'BB-' and 'B', respectively, with a stable outlook. The updated ratings reflect the group’s sound liquidity, …
The potential acquisition will be subject to necessary consents
4 October 09:46 AM Al Salam Bank – Bahrain inks MoU on potential acquisition of assets from Ithmaar
Mubasher: Al Salam Bank – Bahrain has signed a Memorandum of Understanding (MoU) to start discussions with Ithmaar Holding for a potential acquisition of a group of assets from Ithmaar. The potential acquisition will be subject to the completion …
Al Samahiji was the co-founder of Orpheus Partner
29 September 09:38 AM GFH appoints new CEO for UK operations
Dubai – Mubasher: GFH Financial Group has appointed Tariq Al Samahiji as the CEO of the company's operations in the UK effective immediately. With experience in the global banking sector across asset management, capital markets, Islamic finance, …
The segment brings the total length of the 2Africa cable system to over 45,000 km
28 September 03:47 PM 2Africa consortium extends subsea cable system to Arabian Gulf, India, Pakistan
Mubasher: The 2Africa consortium, comprised of China Mobile International, Facebook, MTN GlobalConnect, Orange, Saudi Telecom Company (stc), Telecom Egypt, Vodafone, and WIOCC, announced that a new segment has been added to the 2Africa subsea …
The study estimated the FV of the Bahraini firm's share at $39.71
19 September 01:56 PM Raya Contact Center reveals FV of Gulf Customer Experience
Cairo – Mubasher: Raya Contact Center announced that the fair value (FV) of Gulf Customer Experience has been estimated at $15.68 million.  The study, prepared by Solid Capital for Financial Advisory, estimated the FV of the Bahraini firm's share …
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13 September 04:54 PM NBK issues $1bn Senior Unsecured notes; first of kind across CEEMEA
Mubasher: The National Bank of Kuwait (NBK) has issued bonds worth $1 billion, marking the first callable structure for senior unsecured notes, fixed to floating, across the Central and Eastern Europe Middle East and Africa (CEEMEA) region. Final …
The acquired multifamily residential sites are located close to Las Vegas suburban areas
8 September 12:49 PM GFH acquires $200m multifamily residential sites in US
Mubasher: GFH Financial Group has inked a real estate deal with the US-based real estate specialist Carroll to acquire two multifamily residential sites in Las Vegas in exchange for $200 million. The company's investment in residential assets is …
The Gulf-based firm has been valued at $14.32 million
29 August 01:12 PM Raya Contact Center to proceed with acquisition of Gulf Customer Experience
Cairo – Mubasher: The board of directors of Raya Contact Center approved a decision to proceed with the acquisition of 85% of Bahrain's Gulf Customer Experience, amounting to 335,829 shares.  The Bahrain-based firm operating in the business …
The company plans to submit the firm intention in Q3-21
17 August 10:04 AM GFH submits letter of intent to KHCB for voluntary takeover offer
Dubai – Mubasher: GFH Financial Group has submitted a letter of intent to Khaleeji Commercial Bank's (KHCB) board for a voluntary takeover of the bank's issued shares. The company plans to submit the firm intention and offer documents during the …
The group's total income amounted to $181.01 million in H1-21
12 August 04:52 PM GFH reports 146% higher profits in H1-21
Mubasher: The net profits attributable to the shareholders of GFH Financial Group hiked by 146.1% to $37.04 million in the first half (H1) of 2021, compared to $15.05 million in the year-ago period. Higher profits are attributed to the increased …
The MTO involved 298.62 million shares at $1.42 apiece
9 August 01:48 PM EGX executes $424m MTO on Blom Bank Egypt's shares
Cairo - Mubasher: The Egyptian Exchange (EGX) announced the execution of a mandatory tender offer (MTO) on the unlisted shares of Blom Bank Egypt.  The MTO involved the trading of 298.62 million shares at a total value of $424.04 million, the EGX …
The subscription period for the MTO has expired on Thursday
5 August 05:48 PM Blom Bank Egypt's shares sold in MTO reach 298.6m
Cairo - Mubasher: The Egyptian Exchange (EGX) said that 298.62 million shares of Blom Bank Egypt's total 300 million shares have been sold in a mandatory tender offer (MTO), according to a statement on Thursday.  The subscription period for the …
The bank's total operating income rose by 7.6% to BHD 54 million
5 August 04:05 PM Al Salam Bank – Bahrain sees 50% higher profits in H1-21
Mubasher: The net profits attributable to the shareholders of Al Salam Bank – Bahrain surged by 50.1% to BHD 10.7 million ($28.3 million) during the first six months of 2021, compared to BHD 7.1 million ($18.8 million) in the same period of 2020. …
Saudi Arabia set Arab Light OSP to Northwest Europe at a discount of $1.70/barrel
4 August 03:14 PM Aramco raises September crude official selling prices for Asia
Riyadh – Mubasher: Saudi Arabian Oil Company (Saudi Aramco) has increased the September official selling prices (OSPs) for its Arab light crude to $3 per barrel above the Oman/Dubai average for Asia, Reuters reported on Wednesday. The Kingdom has …
Aramco confirms that these claims are completely false
2 August 10:44 AM Aramco denies mining Bitcoin
Riyadh – Mubasher: Saudi Arabian Oil Company (Saudi Aramco) has refuted the news reporting that it would embark on Bitcoin mining activities, according to a press release on Monday. “Aramco confirms that these claims are completely false and …
The Bahraini bank offered to acquire Blom Bank Egypt for EGP 22.33 per share
26 July 11:43 AM EGX reveals details of Bank ABC's MTO for Blom Bank Egypt
Cairo - Mubasher: The Egyptian Exchange (EGX) revealed the details of the mandatory tender offer (MTO) submitted by Bahrain's Arab Banking Corporation (Bank ABC) to purchase up to 300 million shares or 100% of Blom Bank Egypt. The Bahraini bank …
The offer includes the purchase of up to 300 million shares for EGP 22.33 apiece
18 July 03:47 PM FRA approves Bank ABC's MTO for Blom Bank Egypt
Cairo - Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved the publication of a mandatory tender offer (MTO) submitted by Bahrain's Arab Banking Corporation (Bank ABC) to acquire Blom Bank Egypt.  The offer includes the purchase …
The MTO includes the acquisition of 300 million shares for EGP 22.33 apiece
13 July 04:10 PM FRA considers Bank ABC's MTO for Blom Bank Egypt
Cairo - Mubasher: The Egyptian Financial Regulatory Authority (FRA) said that Bahrain's Arab Banking Corporation (Bank ABC) submitted a draft mandatory tender offering (MTO) to acquire 300 million shares or 100% of the issued capital of Blom Bank …
Gulf Customer Experience has been valued at $15.797 million
11 July 03:36 PM Raya Contact Center to acquire 85% of Gulf Customer Experience
Cairo - Mubasher: The board of directors of Raya Contact Center approved the acquisition of 85% of Bahrain's Gulf Customer Experience, amounting to 335,829 shares. The share purchase agreement and all other contracts related to the transaction …
The transaction was completed in partnership with Student Quarters
11 July 11:03 AM GFH acquires $100m student housing portfolio in US
Dubai – Mubasher: GFH Financial Group has inked an agreement to acquire a $100 million student housing portfolio, affiliated to top-rated universities in the US. The transaction was completed in partnership with Student Quarters, an Atlanta-based …
The offer is subject to the approval of all necessary regulatory
8 July 02:04 PM GFH in talks with Khaleeji Commercial Bank for voluntary takeover offer
Dubai – Mubasher: GFH Financial Group is still in talks with Khaleeji Commercial Bank (KHCB) regarding a potential voluntary takeover offer for the bank's issued shares. The offer is subject to the approval of all necessary regulatory, board, and …
Ithmaar Holding and BBK have not agreed on terms and conditions
6 July 11:38 AM Ithmaar Holding's asset sale to BBK cancelled
Mubasher: The sale of certain assets in Bahrain-based Ithmaar Holding to Bank of Bahrain and Kuwait (BBK) has been cancelled, as both parties have not reached amicable terms and conditions. Following preliminary due diligence and discussions, …
These investments are expected to have a positive impact on the group’s financials
4 July 12:13 PM GFH closes second global tech opportunities offering
Mubasher: GFH Financial Group has closed the private placement offering of Global Tech Opportunities II, comprising investments in a portfolio of high-growth, pre-IPO companies that specialise in next-generation technologies. The portfolio enables …
The bank's current ownership records 3.5%
28 June 09:57 AM Al Salam Bank obtains CBB’s approval to buy treasury shares
Mubasher: Al Salam Bank – Bahrain has received the approval of the Central Bank of Bahrain (CBB) to purchase treasury shares of up to 5% of the bank’s issued shares.  The bank's current ownership records 3.5%, according to the bank's disclosure to …