GFH Financial Group B.S.C. Strengthens Its Position with Treasury Shares Acquisition

GFH Financial Group B.S.C. recently announced a strategic acquisition of its treasury shares, marking a significant move for the company's financial standing.

GFH Financial Group B.S.C. Strengthens Its Position with Treasury Shares Acquisition

Summary

The Bahrain-based GFH Financial Group B.S.C. has bought back a significant amount of its treasury shares, bolstering its position in the market. This move, approved by the Authority in April 2024, showcases the company's financial strength and strategic foresight.

GFH Financial Group B.S.C., a leading Islamic wholesale bank based in Bahrain, recently made a strategic move by purchasing 1,791,203 of its treasury shares. This acquisition increases the total holding of treasury shares from 182,049,582 (representing 4.75% of total issued shares) to 183,840,785 (representing 4.80% of total issued shares).

The decision to purchase was made during the company's board of directors meeting in September 2021, and the purchase was approved by the Authority in April 2024. The average purchase price was 0.272 USD per share, and the purchased shares represent 0.047% of the issued capital. After this purchase, the number of shares remaining for purchase is 199,418,598.

With a market cap of 3,610,303,395 and a steady yield over the past months, GFH's move to purchase its treasury shares is a testament to its financial strength and strategic foresight. This action not only strengthens the company's position but also potentially increases its attractiveness to investors.

Given the company's stable yields, significant market cap, and strategic investments across the GCC region, as well as in the US, Europe, and UK, GFH Financial Group B.S.C. presents a promising investment opportunity. The company's innovative approach to Islamic investment banking services has been recognized internationally for over a decade.

Considering these factors, the future of GFH Financial Group B.S.C. looks optimistic. The company's robust financial standing and strategic decisions suggest it is well-positioned to navigate the complexities of the financial market and deliver solid returns for its investors.

Therefore, for investors looking for a stable and promising investment, GFH Financial Group B.S.C. should be on their radar. As the company continues to strengthen its position and expand its reach, its potential for growth is significant.

Source

Treasury Shares

Summary

On April 25, 2024, GFH Financial Group B.S.C. announced that it has purchased 1,791,203 of its treasury shares. This acquisition increases the total holding of treasury shares from 182,049,582 (representing 4.75% of total issued shares) to 183,840,785 (representing 4.80% of total issued shares). The decision to purchase was made during the company's board of directors meeting in September 2021, and the purchase was approved by the Authority in April 2024. The average purchase price was 0.272 USD per share, and the purchased shares represent 0.047% of the issued capital. After this purchase, the number of shares remaining for purchase is 199,418,598. The announcement was signed by Mariam Jowhary, the Head of Compliance & AML.

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