Damac Real Estate Development IPO starts next week; Jordinvest is the financial advisor, arranger, and lead manager

The 1,250,000 shares are offered at par value of JD1 per share. Jordan Kuwait Bank will welcome all subscribers from the 22nd of October till the 11th of November in all of its branches across the Kingdom.

Jordinvest's Corporate Finance team conducted the feasibility studies and financial projections for Damac Real Estate Development. Moreover, Jordinvest devised and prepared this IPO's prospectus.

Commenting on the announcement, Ahmad Tantash, CEO and Chairman at Jordinvest said:" We are proud of this partnership; being entrusted with the initial public offering of a real estate leader is of paramount importance. Jordinvest prides itself on being the preferred partner of leading public share holding companies in Jordan and the region."

Sofyan Khatib, Head of the Company's Founders Commitee, added," Jordinvest has proved that it is considerably capable of managing IPOs and offering world class financial advisory services. Our partnership with Jordinvest will develop our mission of growth and expansion and will be adding value to both entities."

Damac Real Estate Development is a green field company and was established with an initial capital investment of JD 5 million. Headquartered in Jordan, the company aims at launching three different real estate projects that fulfill the growing needs for both residential and commercial units.

DAMAC is a renowned real estate developer that plays a pivotal role in the real estate scene locally and regionally. The property developer has projects in six different countries across the Arab world including Jordan.

Jordan Investment Trust PLC- Jordinvest is the first Jordanian public shareholding company to offer its clients a variety of integrated investment banking services, in local, regional and international markets.