IPO for Jordan Telecom
The Jordanian government has launched the initial public offering for Jordan Telecom, tendering 15% of the company.
The Jordanian government has released details of the initial public offering (IPO) for Jordan Telecom, offering 15% of the company, equivalent to 37.5 million shares.
Unlike the STC offering, shares will be available to foreign investors, although Jordanian residents will benefit from a 3% discount for up to 1,000 shares.
The IPO, underwritten by J.P. Morgan Chase & Co., will be open from October 9-23.
The minimum purchase will be 100 shares. No upper limit has been set.
The government sold a 40% stake in JTC to France Telecom in 2000, plus a further 8% to the Social Security Corporation.