Jordan's property and investment firm Masaken Capital plans to hire international investment banks for a secondary equity listing next year, said its chairman.

Masaken Capital will rope in "the likes of JP Morgan or Deutsche Bank, and a local Jordanian bank like Arab Bank" to advise on a listing in the UAE or Saudi Arabia, stated Hasan Ismaik.

Ismaik, the ex-CEO of Dubai's Arabtec, had bought 37 per cent of Masaken Capital last month for JD5 million ($7.06 million).

The offering will involve new shares, he said, without specifying what percentage of the company's shares would be sold in the secondary offer.

Beforehand, Masaken aims to increase its capital to JD500 million ($706 million) from JD24 million ($33.85 million), he said, adding one of the "big four" accountancy firms would be hired soon to advise on the procedure.

Masaken will also soon announce a "big" acquisition in the UAE, Ismaik said, declining to provide further details.

The Jordanian businessman resigned from Dubai-listed Arabtec in June 2014 amid rumours of a fallout between him and Abu Dhabi state-owned Aabar Investments, which holds a significant stake in the Dubai contractor.

Ismaik, who still retains an 11.8 per cent shareholding in Arabtec according to bourse data, said there would be no conflict of interest between his ownership in Arabtec and his new position at Masaken.-Reuters