Ithmaar Holding B.S.C

Logotype for Ithmaar Holding B.S.C
Ticker/ISIN
ITHMR
BH000A0J2499
Market/Country
Dubai Financial Market
United Arab Emirates
Latest Stock Price
0.20 AED
2024-10-25

Year to date

-0.01 %

3 months

-0.12 %

6 months

-0.18 %

1 year

-0.06 %

3 years

0.00 %

5 years

0.00 %

Country of Origin: Kingdom of Bahrain

Ithmaar Holding B.S.C. (“Ithmaar Holding or Ithmaar”) is licensed as an investment firm and regulated by the Central Bank of Bahrain (CBB) and is listed on the Bahrain Bourse, and Dubai Financial Market. 

The Company’s main activities are to (1) manage its affiliated companies or to participate in the management of other companies in which it has shares, and to provide the necessary support for such companies, (2) offer loans, guarantees and financing to its affiliated companies, (3) invest its funds in shares, bonds and other securities, (4) own real estates and other assets necessary or undertaking Its activities within the limits permitted by law, and (5) own industrial property rights including patents, trade and industrial marks, concession and other Intellectual rights, and to use and lease them to its affiliated companies or to other companies.

Latest Pressrelease Summaries

Ithmaar Holding B.S.C. has announced ongoing discussions with GFH Financial Group B.S.C. regarding GFH's potential acquisition of Ithmaar's financing and investment portfolios. The negotiations are subject to regulatory approvals, and shareholders will be regularly updated on any further developments.
Ithmaar Holding B.S.C. announced that its Board of Directors will review and approve the financial results for the period ended 30 September 2024 on Wednesday, 13 November 2024, at 1:00 PM. This announcement is addressed to Bahrain Bourse and Dubai Financial Market.
Ithmaar Holding B.S.C. has announced that discussions and negotiations are ongoing with GFH Financial Group B.S.C. regarding GFH's potential acquisition of Ithmaar’s financing and investment portfolios. This acquisition is subject to regulatory approvals. Shareholders will be regularly updated on any further developments.
ITHMAAR HOLDING B.S.C. has released its condensed consolidated interim financial information for the period ending on 30 June 2024.
This document has been prepared in accordance with the disclosure requirements of the SCA Board of Directors’ Decision No. (32/R.M.) of 2019, concerning procedures for companies listed on the market with accumulated losses amounting to 20% or more of their paid-up capital. Companies must comply with the decision's provisions when accumulated losses reach 50% or more of their paid-up capital. Date: 13 August 2024 Listed Company: Ithmaar Holding B.S.C. Financial Period: Q2 2024 Value of Accumulated Losses: USD 834.67 million Accumulated Losses to Paid-Up Capital Ratio: 110% The accumulated losses before reorganization were 68.8% in December 2016, mainly due to impairment provisions from non-core investments resulting from financial crises. In 2018, early adoption of FAS30 (AAOIFI equivalent of IFRS9) led to additional impairment provisions, increasing the accumulated losses percentage to 98%. In 2020, accumulated losses rose by $87.5 million due to the economic impact of Covid-19. In 2021, losses decreased by $35.0 million due to net income attributable to shareholders. In 2022, losses increased by $29.9 million due to net losses attributable to shareholders. In 2023, losses increased by $9.3 million for the same reason. In 2024, losses decreased by $3.4 million due to net profit attributable to shareholders. The Board of Directors is currently working on various initiatives to address the accumulated losses, including an asset sale and/or restructuring plan to improve capital and strengthen the company’s consolidated equity.
Ithmaar Holding B.S.C. announced that its Board of Directors held a meeting on Tuesday, August 13, 2024, at 1 PM, during which the financial results for the period ending June 30, 2024, were approved.
Ithmaar Holding B.S.C. has announced that its Board of Directors will review and approve the financial results for the period ended 30 June 2024 on Tuesday, 13 August 2024, at 1:00 PM. This announcement is directed to Bahrain Bourse and Dubai Financial Market.
عقدت شركة الإثمار القابضة ش.م.ب اجتماع الجمعية العامة غير العادية لمساهميها يوم الأربعاء 29 مايو 2024 في قاعة نوبل للاجتماعات بفندق وستين ستي سنتر البحرين. حضر الاجتماع عدد من المساهمين وأعضاء مجلس الإدارة، بالإضافة إلى ممثلين من مصرف البحرين المركزي، وزارة الصناعة والتجارة، بورصة البحرين، ومدققين خارجيين من شركة كي بي إم جي. ترأس الاجتماع صاحب السمو الملكي الأمير عمرو بن محمد الفيصل آل سعود، الذي رحب بالحضور واقترح تعيين السيد علي أحمد محمد كأمين سر الاجتماع، وهو ما وافق عليه الحضور. أكد الرئيس نشر الدعوة وجدول الأعمال بتاريخ 7 مايو 2024 وفقًا لمتطلبات قانون الشركات التجارية رقم (21) لسنة 2001 وتعديلاته.

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News Update From Ithmaar Holding B.S.C

Disclosure: Resignation of Board Member

The Board of Directors of Ithmaar Holding has announced the resignation of its board member, Mr. Mohammed Bucheeri, due to health reasons. The resignation will be effective from the end of the day on 31st December 2023. Mr. Bucheeri was appointed by a major shareholder, Dar Al-Maal Al-Islami Trust. The board and executive management expressed their appreciation for Mr. Bucheeri's contributions during his tenure. The appointment of a replacement will be disclosed in due course.

1. Attached Document

DFM News

DFM News

News Update From Ithmaar Holding B.S.C

Disclosure: BOD meeting

Ithmaar Holding B.S.C. has announced that its Board of Directors will review and approve the financial results for the year ended 31 December 2023. The meeting is scheduled to take place on Tuesday 13 February 2024 at 1:00pm. The announcement was made to the Bahrain Bourse and the Dubai Financial Market.

1. Attached Document

DFM News

DFM News

News Update From Ithmaar Holding B.S.C

Disclosure: Result of BOD meeting

Ithmaar Holding B.S.C. announced that during the Board of Directors meeting held on Monday, 13th November 2023, the financial results for the period ending on 30th September 2023 were approved. The information was communicated to the Bahrain Bourse and the Dubai Financial Market.

1. Attached Document

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DFM News

News Update From Ithmaar Holding B.S.C

Disclosure: Financial statements for the 3rd QTR of 2023

The text provides a condensed consolidated interim financial information for Ithmaar Holding B.S.C. as of 30th September 2023.

1. Attached Document

DFM News

DFM News

News Update From Ithmaar Holding B.S.C

Disclosure: Detailed analysis of the accumulated losses

The document is a disclosure form prepared by Ithmaar Holding B.S.C, in line with the SCA Board of Directors’ Decision No. (32/R.M.) of 2019. It pertains to companies with shares listed on the market and accumulated losses of 20% or more of their paid-up capital. As of Q3 2023, Ithmaar Holding B.S.C's accumulated losses were valued at USD 833.24 million, which is 110% of their paid-up capital. The company's accumulated losses began to increase significantly in 2016, mainly due to impairment provisions from non-core investments. The adoption of FAS30 in 2018 and the economic impact of Covid-19 in 2020 further increased the losses. However, in 2021, the losses decreased by $35.0 million due to net income attributable to shareholders, but increased again in 2022 and 2023 due to net losses attributable to shareholders. The company's board is currently working on initiatives to improve the capital and address the accumulated losses, including asset sale and/or restructuring plans.

1. Attached Document

RealEstateKing

RealEstateKing

Commented on FinanceBroAEDs Transaction regarding Ithmaar Holding B.S.C

Hey @FinanceBroAED, nice move acquiring Ithmaar shares! Despite the slight downturn in your one month yield, I see potential in Financials. Keep diversifying and stay strong. #InvestSmart
DFM News

DFM News

News Update From Ithmaar Holding B.S.C

Disclosure: BOD meeting

1. Attached Document

DFM News

DFM News

News Update From Ithmaar Holding B.S.C

Disclosure: Detailed analysis of accumulated losses

1. Attached Document

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News Update From Ithmaar Holding B.S.C

Disclosure: Financial statements for the 2nd QTR of 2023

1. Attached Document

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News Update From Ithmaar Holding B.S.C

Disclosure: Results of BOD meeting

1. Attached Document