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GFH Financial Group B.S.C. announced that it has purchased 11,264,132 treasury shares, increasing its total treasury shares from 266,151,591 (6.94% of total issued shares) to 277,415,723 (7.24% of total issued shares) as of March 3, 2025. The decision was made during a board meeting on February 24, 2025, and received approval from the relevant authority on February 16, 2025. The average purchase price was 0.3169 USD per share, representing 0.294% of the issued capital. There are 105,843,660 shares remaining for purchase. The announcement was made by Mariam Jowhary, Head of Compliance & AML.
Al Ramz Corporation PJSC, a financial services institution in Dubai, announced its 2024 financial results, highlighting strategic investments and foundational growth. The company reported a net profit of AED 16 million and a 24% increase in total assets, reaching AED 1.5 billion. The customer base grew by 190%, with client funds rising by 19%. Despite a decline in net profit, revenue remained strong at AED 100 million. The year was marked by the launch of a proprietary social trading platform, enhancing the trading experience through advanced technology. The firm expanded its market reach with innovative products and a focus on financial inclusion, resulting in significant growth in new markets and user engagement.
Sean Magee, the Board Secretary, informed H.E. Waleed Saeed Abdul Salam Al Awadhi, CEO of the Securities & Commodities Authority, and H.E. Hamed Ahmad Ali, CEO of the Dubai Financial Market, about the pricing of USD 700 million green sukuk by the National Central Cooling Company PJSC ("Tabreed"). These sukuk are issued in a Regulation S format with a five-year tenor and a profit rate of 5.279%. The issuance is supported by investment-grade credit ratings from Moody's and Fitch, rated "Baa3" and "BBB" respectively. The proceeds will be used to finance or refinance projects aligned with Tabreed’s Green Financing Framework. The sukuk is expected to be settled this week.
A letter dated 3 March 2025 from Alan Williamson, CEO of Taaleem Holding PJSC, is addressed to Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market. The letter informs him about a Board of Directors meeting scheduled for 5 March 2025 at 3:00 pm, to be held at the company's office and via remote attendance. The meeting will cover routine business issues, company activities, and any other matters approved by the Chairman. A copy of the letter is also sent to the Securities and Commodities Authority.