Business | Markets
Global Mena plans $500m IPO on London exchange
Global Investment House (GIH) said on Tuesday an investment unit planned to raise up to $500 million by selling shares in an initial public offering on the London Stock Exchange.
- Staff Report
- Published: 23:53 June 17, 2008
Dubai: Global Investment House (GIH) said on Tuesday an investment unit planned to raise up to $500 million by selling shares in an initial public offering on the London Stock Exchange.
Global Mena Financial Assets expects to list the shares on or around July 18.
Global Mena Financial Assets will be managed by Global Capital Management, a wholly-owned subsidiary of Global.
The IPO intends to raise $500 million through offering the shares to institutional and professional investors in certain jurisdictions, including the Gulf states.
Soon after the admission into the London market, the company will acquire from Global Investment House, a portfolio of eight private equity investments in financial institutions, predominantly in the Middle East and North Africa (Mena) region.
It is expected that admission will become effective and that dealings in the shares will commence on or around July 18.
JPMorgan Cazenove has been appointed sole sponsor and sole global coordinator for the offer.
JPMorgan Cazenove and Global Investment House have been appointed joint bookrunners and joint-lead managers.
JP Morgan Securities has been appointed joint-lead manager for the offer.
Share this article
More from Markets
More from Business
Popular in Business
-
Global Village
A world of fun
Revamped layout featuring four cultures to greet visitors this season
Business Editor's choice
-
Lloyds chief banks on yes vote
Stress levels were running high for Daniels ahead of bank's record venture
-
LED backlighting to brighten up industry
World Cup soccer fever spurs sales in Middle East, Africa, Asia-Pacific and China
-
Koreans win $10b worth of contracts
Bilateral trade to pick up on higher demand, Korean official says
