Gulf Finance House plans meeting on recapitalization approval

17 October 2010

Gulf Finance House shareholders will be asked to approve issuance of an islamic finance instrument of up to $500m

Gulf Finance House, the Bahrain-based investment bank, is to hold a general meeting for shareholders to approve its recapitalization plan, Bloomberg has reported. “Shareholders will be asked to approve the four to one consolidation of shares, a reduction in paid up capital and the issuance of an equity linked convertible Murabaha of up to $500m,” the company said. GFH said it has requested that its shares be suspended from trading.

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