Dubai – Mubasher: GFH Financial Group (GFH) on Thursday announced that it has completed the acquisition of 73.39 million treasury shares, or 7% of its total issued shares.
After this transaction, the company, listed on the Dubai Financial Market (DFM), the Bahrain Bourse, and Boursa Kuwait, said it owns in total
257.48 million treasury shares as of date, according to a filing to the DFM.
By the end of November, the Bahrain-based group has obtained the approval of the Central Bank of Bahrain’s (CBB) to carry on the treasury shares repurchase programme for acquiring up to 10% of its total issued shares.
During the first nine months of 2018, GFH achieved an 18.6% year-on-year increase in net profits, logging $103.44 million compared to $87.23 million.
By 10:38 am UAE time, GFH’s stock fell 5.59% at AED 0.96.
