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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

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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