GFH Financial sells 10 pct of Bahrain cement maker

22/03/2016 11:54 AST

Islamic investment bank GFH Financial Group agreed to sell a 10 percent stake in Bahraini cement producer Falcon Cement Co to Integrated Capital, the capital markets arm of Abu Dhabi Financial Group, GFH said on Tuesday.

Integrated Capital also expressed interest in underwriting a proposed initial public offer of shares by Falcon on the Bahrain bourse later this year, GFH added without giving details.

Falcon, valued at $120 million, has an annual production capacity of 350,000 tonnes of cement, which is expected to rise to 850,000 tonnes with the launch of a second production line by the end of 2016, according to GFH's statement.

Last month, Abu Dhabi Financial Group announced that Integrated Capital had raised its stake in GFH to 10 percent; the stake was 7.4 percent previously, data from the Dubai Financial Market showed. The Abu Dhabi group has about $3.2 billion in assets under management, it said at the time.


Reuters

News

GFH approves $85m dividend distribution

28/03/2018

GFH Financial Group (GFH) today announced that its shareholders have approved the distribution of 8.72 per cent cash dividends totalling $85 million.

The approval came at the conclusion

Trade Arabia

GFH exits Dubai school investment

26/03/2018

GFH Financial Group has announced that its 100 per cent owned subsidiary GFH Capital Limited has agreed to sell its 70 per cent stake in the Dubai-based Philadelphia Private School (PPS), which it ac

Trade Arabia

GFH joins as a founding partner in Bahrain’s fintech hub

05/03/2018

GFH Financial Group said on Sunday its recent partnership with Bahrain Fintech Bay (BFB) as a founding partner of a fintech hub in the Middle East and Africa (Mena) region will drive innovation and c

Gulf News

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941
RIBL 13.83 1,519,548
SAMBA 26.98 1,138,683
JARIR 177.89 111,251
STC 83.41 257,644
DARALARKAN 13.47 74,648,349

Valuation

GFH Sector Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
ABC 0.30 -0.01 (-1.64%)
INVCORP 8.95 0.00 (0.00%)
BARKA 0.35 0.00 (0.00%)
ITHMR 0.11 -0.01 (-4.55%)
TAIB 2.74 0.00 (0.00%)

Recent News

SABIC-MCC joint venture starts output

05/04/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula

Doha Bank’s third Indian branch opens today

04/04/2018

Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o

The Peninsula

SHUAA to act as liquidity provider to Bank of Sharjah

04/04/2018

Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than

Gulf News

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap