Southern Star Investments W.L.L. signed an agreement to acquire 25% stake in Khaleeji Bank B.S.C. (BAX : KHALEEJI) from GFH Financial Group BSC for approximately $74.96 million on March 5, 2024. GFH Financial Group to sell a portion of GFH?s ownership in the Khaleeji Bank?s Additional Tier 1 (?AT1?) Certificates with a nominal value of $74,962,912 which, when converted after obtaining the regulatory approvals, will result in Southern Star Investments WLL owning 282,610,178 ordinary shares, representing 25% of the issued and paid up capital of Khaleeji Bank BSC. This transaction is expected to reflect positively on the financials and increase the returns for the Group.
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
0.0861 KWD | +0.35% | -1.03% | +12.84% |
06-07 | Ithmaar Shareholders Approve Financing, Investment Portfolios Sale to GFH Financial | MT |
06-05 | Fitch Maintains GFH Financial Group's Ratings on Sufficient Capitalization, Liquidity | MT |
Stocks mentioned in the article
Price
|
Change
|
5d. change
|
Capi.
| ||
---|---|---|---|---|---|
0.088 BHD | -7.37% | 0.00% | 253M | ||
0.0861 KWD | +0.35% | -1.03% | 1B | ||
Chiffre d''affaires - Rate of surprise
1st Jan change | Capi. | |
---|---|---|
+12.84% | 1B | |
+21.79% | 172M | |
+6.10% | 69.79M |
- Stock Market
- Equities
- GFH Stock
- News GFH Financial Group BSC
- Southern Star Investments W.L.L. signed an agreement to acquire 25% stake in Khaleeji Bank B.S.C. (BAX : KHALEEJI) from GFH Financial Group BSC for approximately $74.96 million.