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GFH in $300 mln rights issue

Posted on 13 August 2009

From Cpifinancial.net: Gulf Finance House (GFH) is planning to raise up to $300 million of fresh capital in a rights issue, which it says is “designed to strengthen the balance sheet and enable the bank to engage in a number of high value investment opportunities presented by the global economic downturn.”

GFH said the rights issue, which has already received the Central Bank of Bahrain’s ‘in principal’ approval, will also support long term expansion and diversification plans of the bank as it “looks to new geographies.” The rights issue remains subject to shareholder approval…………Full Article: Source

 
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