Regional investment firm settles in Beirut

22 April 1994

Lebanon's Banque Audi and Capital Trust of Luxembourg are establishing a new regional investment and financial services company targeted at clients in Lebanon, Syria and Jordan, as well as foreign investors interested in the regeneration of the region.

Equity placement is due by end of April. A board of directors will be elected by the end of June. Lebanon Invest will have a capital of $25 million. Of the founding shareholders, Banque Audi is investing $1 million and Capital Trust a minimum of $500,000. The company will issue 250,000 shares at a nominal value of $100 a share; minimum subscription is $250,000. Shareholders will be invited from a group of institutional and private investors in Lebanon and Arab countries, as well as international institutions active in the region.

The company will identify and pursue opportunities in the Lebanese, Syrian and Jordanian financial markets; target investment opportunities in industry, property and public service in the region; advise on mergers and acquisitions; and undertake portfolio management.

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