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Abraaj takes 10.7% JNB
- Jordan: Wednesday, September 13 - 2006 at 16:17
Abraaj Capital has acquired a 10.7% stake in Jordan National Bank in a capital raising exercise by the bank. The acquisition, reportedly worth around $56m, raised JNB's capital to $155m. Abraaj believes JNB stock is undervalued and has the potential to out perform ASE indices.
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James McInerney, News EditorWednesday, September 13 - 2006 at 16:17 UAE local time (GMT+4)
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This article was updated on Tue Nov 28 2006.
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