The Amman Stock Exchange (ASE) has seen its first public takeover bid on a listed company.
Kina Real Estate Investments took a 96% stake in Pearl Sanitary Paper Converting Company in the transaction, which took place on November 7.
The value was not disclosed.
Under Jordan’s Securities Law, anyone purchasing more than 40% of a public issuer’s securities must make a public takeover bid for the company.
Jordan’s government announced last month that a 71% stake in Royal Jordanian Airlines would float on the ASE.
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