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Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

GFH of Bahrain to list on Tadawul

ADX market value rose by US$29.23bn from $513.19bn at end of Q1of 2022 to $542.42bn in Q2 of 2022.
By TRENDS Desk
February 28, 2022 11:23 pm
  • The financial group will reportedly discuss the option with its shareholders at the general meeting
  • The company said shareholders will mandate the board of directors to complete the listing process

Bahrain-based Islamic investment bank GFH Financial Group intends to list on the Saudi stock exchange, Tadawul, and Abu Dhabi Securities Exchange, ADX, according to media reports.

The financial group will reportedly discuss the option with its shareholders at the general meeting scheduled on March 20.

In a filing to Bahrain bourse, the company said shareholders will mandate the board of directors to complete the listing process.

It also involves issuance of relevant documents and licenses, including setting the stock listing price.

Shareholders will vote on carrying forward $8.422 billion of 2021 net profit to the legal reserve.

This includes allocating $1.483 billion to the non-profit, civil society organizations, and zakat fund.

They will also discuss carrying forward $1.431 billion as retained earnings.

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