VOL. XLV

No 19

13-May-2002

JORDAN

Government Sells Jordan CementFactories Shares To Help Reform Program

The Jordanian Government sold off its 8mn shares inJordan Cement Factories (JCF) on 25 April to the Social Security Corporation,which is the countrys largest institutional investor. The shares were sold atJD3.5 ($4.94) which is a 22% premium to the 'Amman Stock Exchange (ASE) closingprice of JD2.85 ($4.03) on the day of the sale, bringing the government a totalof JD28mn ($39.6mn). Since the...