Jordan Investment Trust PLC (Jordinvest) has recently signed a financial advisory and lead management agreement with Damac Holding, a regional leader in the field of real estate development.
This agreement aims to prepare for the establishment of a Jordanian public shareholding company, a new addition to Damac’s expanding group of projects and establishments. The new venture will be headquartered in Jordan and will be established with an initial capital investment of JD 5 million. Future plans include listing this new company on the Amman Stock Exchange through an Initial Public Offering (IPO) within the Jordanian market, as of next year.
Jordinvest’s experienced Corporate Finance team will conduct feasibility studies and financial forcasts for the new company’s performance within the Jordanian market. Moreover, Jordinvest will assist Damac’s consultancy team in taking the necessary steps in order to ensure that the new firm operates productively and efficiently within Jordan's competitive market.
Drawing on its vast experience, Jordinvest will also conduct a series of studies that will serve to ensure both the best use of resources available to the new firm, and the most productive use of financial and capital investments.
This particular agreement forms an integral part of Jordinvest’s expanding portfolio of achievements. Throughout its presence in the Jordanian market, Jordinvest has played an active role in enhancing Jordan’s national economy and the levels of social development in the country. This agreement with the Dubai-based company serves to further solidify Jordinvest’s role as a promoter of development not only on a local but also on a regional scale. Both firms will use their expertise to ensure that the new venture will be a powerful addition to all the markets they operate in.
Jordinvest‘s Corporate Finance department with its well experienced team; has enabled it to record several notable achievements in the firm’s name. It has successfully issued IPO’s for several different entities, operating in different sectors. This new affiliation with Damac only serves to enhance the firm’s growing list of achievements.
Commenting on the agreement the CEO of Jordinvest Mr. Ahmad Tantash said, “We at Jordinvest are very proud to be working so closely with a market leader in the field of development. Damac Holding has made a notable presence for itself on a regional scale, and I am sure that our team of experienced professionals will ensure that the firm will experience more triumph in the years to come. We are happy to add Damac to our expanding client base.”
Mr. Tantash added that Jordinvest is proud to provide its client’s with comprehensive financial services. He also added, that with Damac on its expanding portfolio of clients, the firm will continue to provide what is best for its journey of advancement. Satisfying our clients’ needs is a top priority for us, for our practices are designed to ensure prosperity for all the markets we operate in” he said.
© 2006 Al Bawaba (www.albawaba.com)
