GFH Financial Group, the Bahrain-based investment firm, has acquired a 12.346% stake in Seef Properties, according to a bourse filing on DFM on Thursday.

GFH also reduced its ownership in Bahrain’s Khaleeji Bank by selling 6.11% of its owned shares.

GFH is in discussions to acquire the financing and investment portfolios of Ithmaar Holding, according to a bourse filing on Monday. 

The stake in the Bahrain-based Seef comes after the company announced its Q1 2024 results on Monday, reporting a net profit and comprehensive income attributable to the parent of 1.4 million Bahraini Dinar ($3.7 million), compared to BHD 1.6 million ($4.2 million) for the same period in 2023, indicating a decrease of 10.6%.

(Reporting by Bindu Rai, editing by Seban Scaria)