Latest news with #PalestineExchange
Zawya
24-03-2025
- Business
- Zawya
Arab Palestinian Investment Company's secondary offering to shareholders oversubscribed by 81%
Ramallah, Palestine: Arab Palestinian Investment Company (APIC) announced today that its secondary offering to shareholders was significantly oversubscribed by 81%, surpassing the targeted capital of USD 30 million to reach USD 54.3 Million. This strong response reflects shareholder confidence in the company's strategic vision and long-term resilience despite the severe economic and geopolitical challenges facing Palestine and the region. In his statement, APIC's Chairman and CEO Tarek Omar Aggad, emphasized that the success of the offering reflects shareholder trust in the company's ability to navigate adversity while driving sustainable growth. 'We are deeply humbled by this overwhelming vote of confidence from our shareholders,' Aggad stated. 'Our shareholders' steadfast belief in APIC's future, even in these trying times and uncertainty, affirms the strength of our company and the resilience of Palestine's business community.' Aggad added that the additional capital of USD 30 million will fortify the company's financial position, enhance liquidity and support the expansion plans of its subsidiaries. It will also provide greater financial flexibility, ensuring the company can navigate challenges efficiently and effectively. APIC remains committed to its strategic vision of investing in key economic sectors that contribute to Palestine's economic growth while expanding the footprint of its subsidiaries, both regionally and globally. APIC is a public shareholding investment company listed on the Palestine Exchange (PEX: APIC). It holds diversified investments across the manufacturing, trade, distribution and service sectors in Palestine, Jordan, Saudi Arabia, the United Arab Emirates, Iraq and Turkey through its group of subsidiaries and affiliates: Siniora Food Industries Company; Unipal General Trading Company; Palestine Automobile Company; Medical Supplies and Services Company; National Aluminum and Profiles Company (NAPCO); Reema Hygienic Paper Company; Sky Advertising and Promotion Company; Arab Leasing Company; Qudra Renewable Energy Solutions and Arab Palestinian Storage and Cooling Company, employing over 3200 staff through its group of subsidiaries. For more information, visit
Arab News
25-02-2025
- Business
- Arab News
Oman and Palestine strengthen financial ties with stock exchange deal
RIYADH: Muscat and Palestine's stock exchanges have signed a cooperation agreement to enhance financial integration, facilitate cross-border investments, and bolster market access. The memorandum of cooperation between the Muscat Stock Exchange and the Palestine Exchange outlines a framework for information sharing, dual listings, and broker participation, Oman News Agency reported. The initiative is expected to strengthen both markets by improving operational efficiency and aligning financial disclosure practices with international standards. While Oman-Palestine trade remains relatively small, the agreement reflects broader regional trends. As of 2023, Oman's exports to Palestine totaled approximately $10.59 million, while imports stood at $145,770, according to the UN COMTRADE database. The pact comes amid a record year for Arab stock markets, with Gulf Cooperation Council exchanges witnessing the highest initial public offering volumes on record in 2024 — 53 listings across the region, according to PwC's latest market review. The agreement was signed by Haitham bin Salem Al-Salmi, the CEO of Muscat Stock Exchange, and Nihad Kamal, the director general of Palestine Exchange. The two sides emphasized the importance of the memorandum as a key milestone in enhancing financial integration between Arab stock exchanges and improving financial services in both markets. They also highlighted the need to develop advisory services and offer specialized training programs for stock exchange employees and investors, thereby increasing knowledge of financial markets and trading mechanisms. Additional collaboration will focus on governance and sustainability, as well as initiatives to improve financial literacy through educational and cultural programs. Earlier this month, during a panel discussion at the Capital Markets Forum in Riyadh, Al-Salmi said Oman is working to elevate its market to Emerging Market status and is implementing various initiatives as part of Vision 2040. He added that the exchange has begun aligning its market infrastructure with the required standards to enhance accessibility and attractiveness. Al-Salmi also said that in 2024, Oman's exchange was highly active in boosting liquidity and market capitalization, adding the exchange had two listings, one of which was the country's largest IPO, adding $8 billion to the market. Founded in 1995, PEX has been key to promoting investment in Palestine. It became a publicly traded company in 2010, making it the second Arab stock exchange fully privately owned. As of 2024, it lists 49 companies with a market cap of $4.3 billion but has been hit hard by the war in Gaza and West Bank restrictions. PEX reported a 59 percent drop in net profit for 2024, down to $336,667 from $829,762 in 2023. Trading value fell 50 percent to $164 million, while the Al-Quds Index dropped 90 points or 15 percent. In a press release earlier this month, Chairman Samir Hulileh attributed the losses to the ongoing conflict in Gaza and restrictions in the West Bank, citing a 28 percent economic contraction and a rise in unemployment to 51 percent. Despite these setbacks, PEX remains listed in global financial indices, including FTSE Global, Morgan Stanley, and Standard & Poor's Frontier Markets. The exchange aims to enhance financial disclosure, improve governance standards, and promote sustainability under the new partnership with MSX.
Zawya
25-02-2025
- Business
- Zawya
Muscat Stock Exchange and Palestine Exchange sign agreement
Muscat: Muscat Stock Exchange (MSX) and Palestine Exchange (PEX) signed a Memorandum of Cooperation (MoC) aimed at exchanging expertise, developing systems, enhancing market integration, facilitating broker access, and improving the investment environment in both countries. The move comes as part of efforts to strengthen mutual cooperation and develop financial markets. Both sides emphasised that this agreement marks a significant milestone in strengthening financial integration among Arab markets and aims to elevate the quality of financial services in both exchanges. The MoC seeks to establish a joint framework for collaboration between the two markets by exchanging information and expertise, promoting dual listings and facilitating broker access to both exchanges. Additionally, it includes developing advisory services and offering specialised training programmes for employees of both stock exchanges and investors, thereby enhancing knowledge of financial markets and trading mechanisms. The agreement also includes developing financial infrastructure and improving operational efficiency through coordinated efforts between the two parties. It aims to enhance data exchange, improve financial disclosure in accordance with global best practices, and foster cooperation in the fields of governance, sustainability, and investor education through awareness and training programs. Both exchanges affirmed their commitment to continued joint efforts to achieve the agreed-upon objectives, serving the interests of investors and the national economies of both countries. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
24-02-2025
- Business
- Times of Oman
Muscat Stock Exchange and Palestine Exchange sign agreement
Muscat: Muscat Stock Exchange (MSX) and Palestine Exchange (PEX) signed a Memorandum of Cooperation (MoC) aimed at exchanging expertise, developing systems, enhancing market integration, facilitating broker access, and improving the investment environment in both countries. The move comes as part of efforts to strengthen mutual cooperation and develop financial markets. Both sides emphasised that this agreement marks a significant milestone in strengthening financial integration among Arab markets and aims to elevate the quality of financial services in both exchanges. The MoC seeks to establish a joint framework for collaboration between the two markets by exchanging information and expertise, promoting dual listings and facilitating broker access to both exchanges. Additionally, it includes developing advisory services and offering specialised training programmes for employees of both stock exchanges and investors, thereby enhancing knowledge of financial markets and trading mechanisms. The agreement also includes developing financial infrastructure and improving operational efficiency through coordinated efforts between the two parties. It aims to enhance data exchange, improve financial disclosure in accordance with global best practices, and foster cooperation in the fields of governance, sustainability, and investor education through awareness and training programs. Both exchanges affirmed their commitment to continued joint efforts to achieve the agreed-upon objectives, serving the interests of investors and the national economies of both countries.
