GFH Financial Group Reports Robust Market Making Activity in July 2024
GFH Financial Group B.S.C. has released its market making activity report for July 2024, showcasing a significant number of transactions across multiple stock exchanges in the GCC region.
Summary
GFH Financial Group B.S.C. disclosed its market making activities for July 2024, highlighting substantial transactions in Bahrain Bourse, Dubai Financial Market, and Abu Dhabi Securities Exchange. The report underscores the company's compliance with the Central Bank of Bahrain's regulations and its active role in market liquidity.
GFH Financial Group B.S.C., a prominent Islamic wholesale bank headquartered in Bahrain, has released its market making activity report for July 2024. This disclosure is in line with the Central Bank of Bahrain's requirements, which mandate all listed companies to notify markets of their monthly market making transactions.
The report reveals that GFH's market maker, SICO, executed a total of 1,198,959 securities purchases and 198,109 securities sales on the Bahrain Bourse. The total money paid for these transactions amounted to USD 389,680, while the total money received was USD 64,769. As of the end of July, the securities balance stood at 1,000,850, with a cash balance of USD 5,521,961.
In addition to its activities on the Bahrain Bourse, GFH also engaged in market making on the Dubai Financial Market and the Abu Dhabi Securities Exchange through its liquidity provider, BHM Capital. These transactions are part of GFH's broader strategy to enhance market liquidity and provide a stable trading environment for its securities.
GFH Financial Group has been a key player in the GCC's financial landscape since its establishment in 1999. The company is well-known for its diversified offerings in investment management, commercial banking, and treasury and proprietary investments. With strategic investments in the US, Europe, and the UK, GFH has built a reputation for its innovative approach to Islamic investment banking services.
The company's market capitalization currently stands at USD 3,610,303,395, reflecting its strong position in the financial sector. GFH's listing on four major stock exchanges in the GCC, including the Bahrain Bourse, Boursa Kuwait, Dubai Financial Market, and Abu Dhabi Securities Exchange, further underscores its regional influence.
In conclusion, GFH's market making activities for July 2024 highlight its commitment to regulatory compliance and market stability. While the company continues to demonstrate robust performance, investors should carefully consider their positions in GFH's securities. Given the current market conditions and the company's strategic initiatives, a hold recommendation is advisable at this time.
Source
Summary
On August 7, 2024, GFH Financial Group B.S.C. disclosed its market-making activities for July 2024, in compliance with the Central Bank of Bahrain's requirements. The report details transactions conducted by GFH's market maker, SICO, on the Bahrain Bourse, and by liquidity provider BHM Capital on the Dubai Financial Market and Abu Dhabi Securities Exchange. For July 2024, SICO purchased a total of 1,198,959 securities and sold 198,109 securities on the Bahrain Bourse, with total money paid amounting to USD 389,680 and total money received amounting to USD 64,769. The securities balance was 1,000,850, and the cash balance was USD 5,521,961.
