The company's stock will be traded under the symbol UGHI.
The group's shares were offered for subscription last June for a period of two weeks, when 12,500,000 shares were offered for an IPO. As a result JD44,777,024 / shares were underwritten. The first 500 shares were allocated in full, whereas the remaining shares were allocated at the percentage of 22.118%.
Commenting on the development, UGH CEO Imad Dahleh said the listing of the group within the ASE is an important move as the company will contribute to meeting the needs of dealers in the financial market and enhance their investments.
UGH was established in Amman with a JD50m capital, of which founders secured JD37.5m / shares and the rest was offered through the IPO.
The company seeks to be a pioneer in the field of integrated logistic services, offering in Jordan and the region unique and distinguished services and employing the most advanced technologies that take the sector to the highest level of performance.
The company comprises of six local firms specialized in land, sea and air transport, customs clearance, freight forwarding, warehousing and distribution of foodstuff and disposable items.
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United Group Holdings listed on Amman Stock Exchange
- Jordan: Sunday, September 14 - 2008 at 11:01
- PRESS RELEASE
The United Group Holding (UGH) announced that the Jordan Securities Commission (JSC) has endorsed the listing of the company on the Amman Stock Exchange (ASE) as of Sunday, September 14, in line with the instructions governing the enlistment of securities in ASE.
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About UGH:United Group Holding (UGH) was established in Amman in 2008 with a JD50m capital. It seeks to become in record time the largest integrated logistic services provider at the level of Jordan and the region, employing the most advanced technologies that are prone to take the sector to the highest level of performance. Services include Supply Chain Management Excellence offered in the Jordanian and regional markets.
The company will be working to buy a fleet of 1000 state-of-the-art trucks for land transport to carry petrol, gas, construction materials and sand, in addition to fresh and canned foodstuff, medical materials and medicines, and all types of specialized freight.
The company will also build warehouses with a total area of 60,000 square meters as part of its plans to offer added-value logistics. These include high-quality cool and dry warehousing and all other kinds of specialized warehousing, using highly advanced technologies, in alliance with leading companies in the sector.
In addition, UGH will offer freight forwarding services in both air and maritime transport, clearance services and chain supply, which includes the transport and distribution of fresh and frozen food in Jordan and the region.
For further information, please contact:
Eman Afanah
Chief Communication Officer
UGH
Tel: +962 65777800
Fax: +962 65777801
P.O. Box 17969 Amman 11158 Jordan
Posted by Siba Sami AmmariSunday, September 14 - 2008 at 11:01 UAE local time (GMT+4)
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