Dubai – Mubasher: GFH Financial Group’s stock, listed on Dubai and Kuwait’s bourses, rose in Sunday's trading session, after GFH Real Estate (GFHRE) announced some positive news.
GFHRE, a unit of GFH, hired Almoayyed Contracting Group as a main contractor for the Harper Row in the Bahrain Financial Harbour, with a total cost of $150 million. The subsidiary also inked an escrow agreement with Khaleeji Commercial Bank (KHCB) for waterfront project Harbour Row.
The stock went up 11.63% by 1:40pm UAE time to reach AED 1.44, its highest level in two years.
GFH generated AED 216.2 million from the exchange of 157 million shares, representing 33% of Dubai bourse’s liquidity.
In Kuwaiti bourse, the stock rose 9.43% to 116 fils, with a turnover of KWD 170,890 shares generated from the exchange of 2.43 million shares.
The stock stabilised in Bahrain Bourse, generating BHD 7,840 from trading 22,400 shares.
