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Islamic Finance Briefing - Categorized | Finance, Market Moves more

Gulf Finance House in $500 mln support plan, National says

Posted on 18 November 2010

From Bloomberg: Gulf Finance House EC, the Bahrain- based investment bank, said its shareholders agreed on a plan to raise $500 million to stave off bankruptcy, the National reported, citing a company statement.
Shareholders also agreed to raise funds through converting an Islamic financing instrument into shares and a four-to-one consolidation of shares, according to the report……………………………………….Full Article: Source

 
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