Amman, January 17, 2010: In its capacity as the issue manager to Siniora Food Industries, Jordan Investment Trust P.L.C. (Jordinvest), one of the leading providers of comprehensive merchant, investment and financial services locally and regionally, has obtained approval from the Jordan Securities Commission to register Siniora’s shares of JD 9.49 million resulting from its conversion from a Private Liability Company to a Public Shareholding Company.
Jordinvest has partnered with Siniora since 2007, acting as the company’s financial advisor, arranger and lead manager, raising the company’s capital by JD 4.5 million by allocating the increase to strategic partners.
In its role as an issue manager, Jordinvest has completed the necessary steps to convert Siniora into a public shareholding company, and will be finalizing the needed steps with the Securities Depository Center in order to ensure the company’s shares are listed on the Amman Stock Exchange.
On this occasion, Jordinvest Chairman and CEO Mr. Ahmad Tantash stated, “We have been cooperating with Siniora Food Industries for the last few years and it is a significant milestone for Jordinvest to be the issue manager of a pioneer and leader in its field. We strive to provide Siniora with unique investment services such as capital raising that will enhance the company’s position in the market. We are also committed to continually providing our clients with a variety of integrated investment banking services in both the local and regional markets.”
Mr. Majdi Al Sharif, CEO of Siniora Food Industries stated, “Our partnership with Jordinvest will support our capital raising operations and add value to this initiative through the establishment of solid financial foundations, bringing us closer to achieving the results we strive for. We are always careful to adopt the latest methodologies in all our operations by partnering ourselves with industry experts such as Jordinvest”.
Siniora Food Industries is a leading Jordanian-based company established in 1992; however, the factory existed in Palestine since 1920, with the principle aim of production, distribution and sale of cold cuts and luncheon processed meat products, in addition to the import of raw materials used in the production and export meat products. Siniora’s high standards of operations has granted it several certificates of distinction including the ISO 9001 certification for distinction, and the HACCP, the ISO 22000 certificate for distinction for its operations in Jordan and Palestine.
Jordinvest established its operations in the Jordanian market in 1998 as the first Jordanian public shareholding company to offer its clients a variety of integrated investment banking services in domestic, regional and international markets. Its services are primarily focused in asset management and financial advisory services, and include corporate restructuring, debt and capital raising, privatization operations, managing public offerings, issuing bonds, mergers and acquisitions, and conducting in-depth specialized economic, sectoral and equity research.
