commerce www.bahrainthismonth.com November 2022 67 KFH SHARES COMMENCE TRADING ON BAHRAIN BOURSE Pavilion Renewables, part of the Pavilion Group, a global provider of Renewable Energy Solutions, Water Treatment and Decarbonisation, has recently signed a Memorandum of Understanding (Agreement) with OAK Energy & Infrastructure Solutions (OAK), a multinational technologist headquartered in Bahrain. OAK delivers step-change Oil & Gas Infrastructure and Renewable Energy Technologies and services to both the Public and Private sectors. The agreement brings together Pavilion Renewables, which operates under the umbrella of Pavilion Group and OAK Energy & Infrastructure Solutions, a member of OAK Group Holdings, to jointly work to enhance the delivery capabilities for Waste-to-Energy Solutions. The agreement falls within a wider framework of both parties’ commitment in support of the objectives of Bahrain’s Economic Vision 2030 with both local and international projects, which aims to offer meaningful and profitable diversification options in support of National Policy Plans and programmes in this region for the transition from oil-based economies to economic and social development strategies in compliance with Sustainable Development Goals (SDGs) and, in particular, in alignment with Global Nett Zero Carbon Emissions strategies. Batelco (Ticker: BATELCO), announced that its subsidiary Sure has agreed to buy Airtel-Vodafone - a mobile network provider located in Jersey and Guernsey in the Channel Islands. The merger will trigger significant investment in the Islands’ digital infrastructure including the introduction of the latest 5G technology to the islands. Sure is investing in building high-quality mobile networks which will improve coverage and complements Sure’s fiber networks. The merger supports Sure’s strategy to grow in scale and scope, in line with Batelco’s international investments aspirations. Batelco CEO, Mikkel Vinter, says: “As part of our International Investments strategy, we continuously seek out opportunities for the growth and development of our overseas businesses. Sure has continued to deliver strong performance, and the merger with Airtel-Vodafone supports the ambition to grow its mobile networks and deliver new and enhanced digital services for its customers.” The proposed merger is subject to regulatory approval in both: Guernsey and Jersey. Bahrain Bourse has announced the crosslisting and commencement of trading of Kuwait-based Kuwait Finance House K.S.C.P., under the trading symbol ‘KFH’ in the regular market. KFH Shares will be traded in USD on Bahrain Bourse in accordance with market procedures, and will be classified under the Non-Bahraini Companies Sector. Following this announcement, the total number of listed companies at Bahrain Bourse now stands at 43. Kuwait Finance House is licensed by the Central Bank of Kuwait as a locally incorporated bank operating as an Islamic bank and provides a wide range of banking Shari’a compliant products and services. KFH was established in 1977, and was listed on Boursa Kuwait in 1984. The authorised share capital of KFH is KWD 1.35 billion divided amongst 13,309,448,363 shares with a nominal par value of KWD 0.100 per share. To commemorate the commencement of trading of KFH shares, a ringing bell ceremony was held in the presence of Minister of Industry and Commerce & Minister in Charge of Bahrain Bourse, HE Zayed R. Alzayani, and Chairman of Kuwait Finance House (KFH), Hamad Abdulmohsen Al Marzouq and executive management of KFH along with CEOs of listed companies, representatives from the CBB, Board Members, and executive management of Bahrain Bourse. BATELCO’S SUBSIDIARY SURE TO ACQUIRE AIRTEL-VODAFONE PAVILION RENEWABLES SIGNS MOU WITH OAK
RkJQdWJsaXNoZXIy Mjk0MTkxMQ==