GFH seeks shareholder nod for recapitalisation

Company requests exchanges to suspend its shares from trading during this period

By

Staff

Published Saturday, October 16, 2010

GFH seeks shareholder nod for recapitalisation. (FILE)

Gulf Finance House (GFH), the Bahrain-based Islamic investment bank, has called for a shareholders meeting to approve its recapitalisation plan.

The plan includes a 4:1 consolidation of shares, a reduction in paid-up capital and the issuance of an equity-linked convertible Murabaha of up to $500 million, the company said in a statement on Saturday.

GFH has also requested the exchanges to suspend its shares from trading during this period in order to avoid undue speculation and protect the interest of its shareholders, the company said.

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