Global Lists Global MENA Financial Assets Limited (GMFA) on the London Stock Exchange
Global Investment House (Global) announced today that it has listed Global MENA Financial Assets Limited (GMFA) on the London Stock Exchange (LSE) on Friday 18 July 2008. GMFA will be managed by Global Capital Management Limited, a wholly owned subsidiary of Global Investment House.
Mr. Colin Milton, Head of International Business Development Primary Markets at the London Stock Exchange, hosted a welcome ceremony this past Friday and presented a plaque to Mr. Omar El-Quqa, Executive Vice President at Global and board member of GMFA. The ceremony was attended by several senior members of the Exchange.
The listing comes after the successful placement of US500 million (equivalent to £252 million) through placing of 252,040,000 million shares at an offer price of 100.00 pence per share.
Mr. El-Quqa said, "We are proud to list GMFA on the LSE, making it the second company we list on LSE after the successful listing of Global's GDRs in May 2008. The success of this IPO reflects the international investor's confidence in the MENA region and Global".
El-Quqa showed great gratitude and thanked all who expressed interest in GMFA and pointed out that GMFA will add and grow its base of investments in the MENA region.
El-Quqa further explained "The net proceeds of the IPO will be used to acquire from Global Investment House a portfolio of eight financial services sector assets in financial institutions predominantly in the Middle East and North Africa (MENA)".
The remaining net proceeds will be applied according to the Company’s investment policy of acquiring and managing controlling and significant minority stakes in unlisted companies and controlling stakes in listed companies in the financial services sector within the Target MENA Region (including Turkey) and up to 20% of Net Asset Value in selected other emerging markets.
JPMorgan Cazenove Limited ("JPMorgan Cazenove") has acted as sole sponsor and sole global coordinator in connection with the Offer and Admission. JPMorgan Cazenove and Global Investment House have acted as joint book runners and joint-lead managers and J.P. Morgan Securities Ltd. has acted as joint-lead manager in connection with the Offer.
