Dubai – Mubasher: GFH Financial Group on Monday said that it will not change the value of its paid-up capital and the number of shares after issuing bonus shares and cancelling treasury stocks.
The firm also will not adjust its stock price in any equity market, the Bahrain-based Islamic investment bank said in a statement to the Dubai Financial Market (DFM).
On Sunday, the company’s CEO Hisham Ahmed Al Rayes told CNBC Arabia that he forecast to finish all the regulatory requirements needed for listing its shares on the Saudi Stock Exchange (Tadawul) in the first half of 2019.
In March, GFH said that Aluminum Extrusion Company BSC (Balexco) sold its 50% stake in Technal Middle East W.L.L. (TME) to Hydro Extruded Solutions AS.
On Thursday, GFH Financial Group’s ordinary general meeting (OGM) approved the board of directors’ recommendation to distribute 8.71% of the capital as cash dividend and bonus shares for fiscal year 2018.
It is noteworthy that GFH is listed on Bahrain Bourse (BHB), Boursa Kuwait, and the DFM.
