VOL. XLV

No 45

11-November-2002

JORDAN

Jordan Telecom IPO 70% Subscribed

The Jordan Telecommunications Company (JTC) IPO was 70% subscribed, with 10.5% of overall shares (26.25mn shares) subscribed at JD2.35 ($1=JD0.7095) per share, at the lower end of the JD2.30-2.70 range, generating around JD61.7mn. The government had planned to sell 37.5mn shares, representing 15% of the companys issued share capital, in the offering which took place from 9-23 October (MEES, 28 October). Following the IPO,...