Bahrain-based Gulf Finance House (GFH) has signed a memorandum of understanding with Nasdaq Dubai to list a new sukuk of $200 million.

In a filing to the Bahrain Bourse, GFH said it plans to use the proceeds from the sukuk to repay current outstanding sukuk of $84 million and undertake business acquisitions for financial consolidation and project development in Bahrain and Dubai.

The sukuk issuance will take place in the coming months at a time to be announced, subject to regulatory approvals.

In April, GFH obtained shareholders' approval for sukuk issuance or new debt facilities of up to $500 million. - TradeArabia News Service