It's been in the news a while, Gulf Bank (BGUC) is going from 125B to 250B with 23% free and 77% paid ups, trading is suspended for their GA meeting. Generally one would expect a price drop with 77% paid ups, but Gulf Bank is pulling a rabbit out of it's hat. Is anyone paying attention to their numbers? Let's see...1) their share price is below book value...hmmm??? 2) Their PE ratio is sitting at 2.6 WHAT??? There is NO lower ratio for banks listed on the ISX 3) They were up over 100% in both net income and profit for 2012 NICE!! 4) Their Q1 2013 revenue is equal to North Bank who's sitting at 2.15 or so per share. 5) They have management skills, Iraq Holding Company - Kuwait own 51% minimum. If and when there's ever a run on the ISX, 77% paid ups at 1 IQD will be one to laugh about. I sold SMRI to cover the paid ups...took Warka 2 days to complete the transaction.