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Gulf Finance House raises $300m in rights issue

  • Bahrain: Tuesday, November 03 - 2009 at 09:13

Bahrain-based Gulf Finance House has said it had raised $300m in fresh capital through a rights issue, slightly short of its initial $345m target, Reuters has reported. GFH had offered around 908 million shares for $0.38 each in the rights issue that closed last week. The lender had undertaken the rights issue to repair its balance sheet after posting three consecutive quarterly losses.

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