Southern Star Investments W.L.L. signed an agreement to acquire 25% stake in Khaleeji Bank B.S.C. (BAX : KHALEEJI) from GFH Financial Group BSC for approximately $74.96 million on March 5, 2024. GFH Financial Group to sell a portion of GFH?s ownership in the Khaleeji Bank?s Additional Tier 1 (?AT1?) Certificates with a nominal value of $74,962,912 which, when converted after obtaining the regulatory approvals, will result in Southern Star Investments WLL owning 282,610,178 ordinary shares, representing 25% of the issued and paid up capital of Khaleeji Bank BSC. This transaction is expected to reflect positively on the financials and increase the returns for the Group.
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+3.18% | 66.57M |
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- Southern Star Investments W.L.L. signed an agreement to acquire 25% stake in Khaleeji Bank B.S.C. (BAX : KHALEEJI) from GFH Financial Group BSC for approximately $74.96 million.