Media ININ Economy We Trust
Media In / Amman 8 January 2019
Talal Abu-Ghazaleh, Chairman of Talal Abu-Ghazaleh Organization (TAG-Org), said that discussions are under way with UAE institutions to invest in the group.
He added that the group is considering the entry of partners by allocating up to 25% of the capital by invitation to subscription rather than public offering, while a list of more than one institution and individuals is being prepared.
He added that the group is preparing a prospectus, also referred to as an invitation to subscribe, an official legal document to be submitted to buyers containing details such as the number of shares and the price of the tender, in addition to the financial situation and then be distributed by accepting bids from investors through private subscription And not the year, which is through the sale of all shares to investors provided they are not raised within a specified period of time.
He explained that the prospectus includes basic conditions, including that the share of one investor does not exceed 1 per cent of the quota allocated to the partners of 25% to be limited to the role of an investor and not a manager, not only as a shareholder in the capital and not related to management.
