Summary of Proposed Investment
Project Number
8833
Company Name
JORDAN INVESTMENT TRUST PLC
Date SPI Disclosed
Dec 10, 1997
Country
Jordan
Industry
Financial Markets
Status
Completed
Sector
Broker/Dealer
Department
Regional Industry FIG MCT
Environmental Category
FI
Previous Events
Approved : Feb 3, 1998
Signed : Mar 18, 1998
Invested : Apr 1, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | Jordan-Jordinvest |
| Region | Middle East |
| Sector | Financial Services |
Project No008833
Projected Board DateJanuary 30, 1998
Company NameJordan Investment Trust PLC
Technical Partner and/or Major Shareholders
The main sponsor of the project is Gulfinvest, an investment company which provides development capital to businesses in the Middle East.
Project Cost Including proposed IFC investment
Jordinvest would be capitalized at JD 20 million (US$28 million equivalent) of which IFC’s equity investment is JD 1 million (approximately US$1.4 million) for a 5% shareholding.
Location of project and Description of site
Amman, Jordan
Description of Company and Purpose of Project
The project involves the establishment of the first investment bank in Jordan. Jordinvest would carry out a broad range of investment banking activities, including providing long-term private equity, investing in quoted investments, underwriting and private placement of debt and equity issues, corporate finance activities especially restructurings, privatization, and mergers and acquisitions. Jordinvest would play a critical developmental role in addressing the financial needs of the private sector in Jordan and in developing its capital markets. Through its affiliation with its sponsor, Gulfinvest, the Company would also attract foreign as well as Middle Eastern investors to the region.
Environmental Category and Issues
This is a Financial Intermediary (FI) category project according to IFC’s environmental review procedures. Jordinvest will be required to undertake an environmental review of eligible companies’ operations. In addition, IFC will assess Jordinvest’s capability to carry out environmental reviews of each investee company.
| Date SPI sent to PIC | December 10, 1997 |
“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384
Sponsor / Cost / Location
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