Jordan’s Masaken Capital plans secondary Gulf listing, says Hasan Ismaik

14/09/2015 Argaam

Jordan-based property and investment firm Masaken Capital is planning to hire banks for a secondary equity listing in Saudi Arabia or the United Arab Emirates (UAE), the company’s chairman Hasan Ismaik told Reuters on Sunday.

 

The former chief executive of Dubai’s Arabtec said Masaken Capital would also soon announce a “big” acquisition in the UAE.

 

Last month, Ismaik bought a 37 percent stake in Masaken for $7.06 million, according to a report published by Argaam. He still holds 11.8 percent of Arabtec, despite his departure from the firm last year.

 

Ismaik added that there would be no conflict of interest regarding is ownership in both firms.

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