Global Investment House K.S.C.C. (GIH) on Tuesday announced intention of Global MENA Financial Assets Limited to proceed with an initial public offering of its shares and to trade on the London Stock Exchange. Global MENA Financial Assets will be managed by Global Capital Management, a wholly-owned subsidiary of Global Investment House. The company plans to raise up to $500 million through an offering to institutional and professional investors in certain jurisdictions including Gulf Co-Operation Council states. Once admitted in the LSE, it will acquire from Global Investment House a portfolio of eight private equity investments in financial institutions predominantly in the Middle East and North Africa (MENA) region. It intends to commence trading on or around July 18 this year. JPMorgan Cazenove Limited has been appointed sole sponsor and sole global coordinator in connection with the Offer. JPMorgan Cazenove and Global Investment House have been appointed as joint bookrunners and joint-lead managers and J.P. Morgan Securities Ltd. has been appointed as joint-lead manager in the offer. Global MENA Financial Assets is a closed-ended investment firm incorporated in Guernsey. The company's investment objective will be to generate attractive absolute returns by investing in a diversified portfolio of private equity financial sector assets predominantly in the Company's target MENA region comprising Algeria, Bahrain, Egypt, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Qatar, Saudi Arabia, Tunisia, Turkey and the United Arab Emirates. The proposed directors of Global MENA Financial Assets believe the company represents a compelling investment opportunity. The company offers an opportunity to invest in attractive regional financial assets and will be managed by one of the largest non-governmental MENA asset managers. Immediate access to a diversified equity portfolio of 8 high growth financial service sector assets valued at $272 million, as of May 27, 2008. __
