(MENAFN - Bahrain Tribune) Global Investment House (GIH) announced yesterday that First Jordan Investment Company received approval for capital increase placement in Jordan.
Omar Mahmoud El-Quqa, GIH Executive Vice-President, said the Commissioners Security of Jordan approved First Jordan's placement to increase its capital, which is a step towards implementing the company's future plans to seize the investment opportunities present in Jordan.
The company will offer 60 million shares at 1 Jordanian Dinar/share for placement.
El-Quqa pointed that First Jordan aims to invest in various sectors, own shares from existing companies, or establish new companies in Jordan.
"This will be done through the strategic cooperation with established companies that the company will assist them in financial restructuring, capital increases, and acquiring major stakes in unlisted and listed securities."
He followed by saying that First Jordan will also invest in the real estate sector, in addition to other investment activities that are deemed appropriate and inline with its business strategy and goals.
Last May, GIH established First Jordan with a capital of JD150 million.
El-Quqa said the company's first project is to establish a business centre in the Aqaba which Global last year signed a memorandum of understanding with the Aqaba Development Corporation (ADC), the investment arm of Aqaba Special Economic Zone Authority.
The project will be located at the main entry of Aqaba City with an area of approximately 150,000 square metres. The project comes as an outcome of the memorandum of understanding signed in September with the ADC, he explained.