Jordan Investment Trust (Jordinvest) has recently signed an agreement of cooperation with Al Quds Readymix.
Mr. Ahmed Tantash, Vice Chairman of the Board and CEO of Tantash Group, signed the agreement of behalf of Jordinvest while Mr. Wasef Jabsheh, Chairman of Al Quds Readymix, signed it on behalf of Al Quds Readymix.
The agreement between Jordinvest and Al Quds Readymix stipulates that Jordinvest will manage the IPO of Al Quds Readymix in order to cover the increase of capital by JD 2 million raising the Company’s capital to a total of JD 7 million.
Upon signing the agreement, Tantash Group CEO commented, “We are proud to sign this agreement with Al Quds Readymix to manage the IPO program.” He added, “Jordinvest has in fact begun implementing its future plans with an aim to increase its customer base by tapping into local companies and enterprises and weaving itself in the economic fabric that conforms to the clients’ needs.
Mr. Jabsheh, Al Quds Readymix Chairman, stated, “Our business has increased inline with the growing market in which we were able to secure a large share leading us to work on increasing our capital. We are very optimistic regarding the growth of the construction industry in Jordan whether in the ready mix or other cement products, which our company plans to expands into.”
