Royal Jordanian Airlines completes IPO

Airline Code [RJA] View More Royal Jordanian Airlines News

(c) Centre for Asia Pacific Aviation: The Government of Jordan announced that the offer price of the 59,905,079 existing shares of nominal value JD1 each in Royal Jordanian representing 71% of its total issued share capital, has been set at JD3.08 per share, resulting in a market capitalization for the carrier of JD 260 million. The offering consists of 22,277,142 Offer Shares to Jordanian retail and institutional investors, including a placement of 6.493,506 shares with the carrier’s employee fund and 8,437,335 shares with the Social Security Corporation, and an offering of 37,627,937 shares to regional and international institutional investors, including a placement of 16,030,937 shares with the M1 Group.

The total proceeds from the Offering amount to JD164.5 million. Shares are expected to start trading on December 17, 2007.

H.E Mr. Nasser Lozi, Chairman of the Royal Jordanian Executive Privatization Group and Chairman of Royal Jordanian, said, “We have been very pleased with the volume of interest we have received from both the general public and also local, regional and international institutional investors, in particular the very positive response from retail investors in Jordan.”

Citigroup Global Markets Limited is Sole Global Co-ordinator and Bookrunner of the Offering with Arab Jordan Investment Bank acting as Jordanian Lead Manager and SHUAA Capital PSC as Selling Agent.

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