Mubasher: The ordinary general meeting (OGM) of GFH Financial Group approved the board’s recommendations to establish a trust certificate issuance programme with a value of up to $500 million.
Through a special purpose vehicle (SPV), the shareholders also passed the issuance of Sukuk amounting to $500 million in one or more tranches through the issuer SPV, according to a press release.
Additionally, they greenlighted the modifications to the terms and conditions of the existing $500 million Sukuk due in 2025, originally issued in two tranches in 2020.
GFH has more than $21 billion of assets and assets under management (AUM), including a global portfolio of investments in logistics, healthcare, education and technology in the MENA region, Europe, and North America.
Last July, GFH Partners Limited closed its seventh logistics and industrial fund in the US.
In the first half (H1) of 2024, the Bahraini group recorded net profits to the shareholders valued at $60.75 million, up 11.20% from $54.62 million in H1-23.
