Global-Jordan Manages the Capital Increase of United Group Holdings through an Initial Public Offering

Published June 16th, 2008 - 12:14 GMT

Global-Jordan Manages the Capital Increase of United Group Holdings through an Initial Public Offering

• Nabulsi: UGH aims to become the largest one-stop-shop Logistics and supply chain management company in Jordan.

 

Global Investment House – Jordan (Global – Jordan) announces the Launch of the Initial Public Offering (IPO) of United Group Holdings (UGH) which will commence on Monday June 16th and will close on Sunday June 29th. 

UGH, through its current offering of 12.5 million new shares at a nominal price of JOD1.00 per share intends to raise its paid-up capital to JOD50 from the JOD37.5 million provided by the Company's founders.

Global- Jordan is the Lead Manager for the issue. Jordan Kuwait Bank and Union Bank for Savings & Investments are the issue's receiving banks.

UGH is considered one of the largest companies in Jordan and in the field of logistics. The Company is set to create the first integrated supply chain solutions and logistics service provider in the country through establishing and operating a land transport fleet, a group of storage and distribution facilities, a customs brokerage and clearing operator, and a land freight service provider. 

It is worth mentioning that UGH will also provide its clients a selection of storage alternatives that include storage within controlled temperatures and in special facilities.

Mr. Sami Nabulsi, Head of Investment Banking, at Global-Jordan said, “The logistics sector in Jordan is relatively new, and there are not many specialized companies in the field. In light of growing demand for logistical services in addition to the Kingdom's strategic central location relative to Asia, Africa, and Europe, UGH believes that it will become a leader in the field and that it could grab a large portion of the market share compared to its rivals."

He further added, "UGH is looking to capitalize on the potential synergies between the companies to be created and acquired to create the largest one-stop-shop logistics and supply chain management company in Jordan, that would potentially grow into a major regional player by expanding into key regional markets, including neighboring Gulf countries, Syria, Iraq, and Lebanon."

Global-Jordan is fully owned by Global Investment House (Global), one of the leading asset management and investment banking companies in the GCC and the wider Middle East and North Africa (MENA) regions.

With over 45 employees and total assets exceeding JD35 million, Global-Jordan is growing to be a full-blown investment company providing services in asset management, investment banking, wealth management, research, and brokerage. Global-Jordan’s Investment Banking division provides a wide array of services that include private placements, M&As, privatizations, financial advisory services, and initial public offerings (IPOs).


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