Bahrain's GFH requests trading halt on Kuwaiti bourse

Gulf Finance House's stock was also halted on the Bahrain bourse
Bahrain's GFH requests trading halt on Kuwaiti bourse
STOP TRADE: Bahrains Gulf Finance House (GFH) has requested that its shares be halted on the Kuwait stock exchange pending further notice. (Getty Images)
By Reuters
Sun 17 Oct 2010 01:53 PM

Bahrain's Gulf Finance House (GFH) has requested that its shares be halted on the Kuwait stock exchange pending further notice, according to a statement on Sunday.

GFH did not give a reason for its request. The stock was also halted on the Bahrain bourse.

On Saturday, GFH said it plans to reduce its capital and raise up to $500 million in fresh funds to plug the holes a regional property crunch cut into its balance sheet.

The Islamic investment house said in August it would hold a shareholder's meeting in October to approve plans to raise funds through a murabaha, an Islamic equity-linked money market instrument.

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