Thursday, May 13, 2010

Gulf Finance House - No Sale of Khaleeji Commercial Bank

In announcements on the Bahrain Stock Exchange, GFH officially replied to the two AlQabas press reports referred to in my earlier post.

Here GFH states that it is in the process of  amending its capital management program and that this involves increasing its stake in KHCB.  And that it will advise the KSE when this process is complete -- completion of studies and receipt of necessary approvals.

It should be noted that this press release was in response to a letter sent today (13 May) by the BSE.

GFH disavows the AlQ statement noting it is the opinion of the newspaper.

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