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FJIC IPO oversubscribed 3.7 times - UAE  Join our daily free Newsletter

MENAFN - Khaleej Times - 06/08/2007

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(MENAFN - Khaleej Times) DUBAI — Global Investment House (Global) has announced the successful closing of the recent public offering of First Jordan Investment Company (FJIC) in record time. The IPO was oversubscrbed about four times .


Global is the company's largest shareholder and co-lead manager for the offer, which started on July 10, 2007, and lasted for two weeks.

Sixty per cent of FJIC's JD150 million capital was already covered by a consortium of local and regional institutional and individual investors with Global making up the lion's share. The remaining 60 million shares were covered by almost 68,000 investors who racked up around JD225 million (317 million).

"We are pleased with the strong response that this IPO has witnessed despite the recent decline in market liquidity. This reflects the public's confidence in the company's future plans and its founding shareholders," stated Omar El Quqa, chairman of founders committee and executive vice-president at Global.



 






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