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The Palestine Exchange (PEX) Concludes Second Investment Road Show to London, UK
LONDON, June 30, 2011/PRNewswire/ --
- Aweidah: PEX Maintains a Strong Record of Investment Returns and
Attractive Valuations
The Palestine Exchange (PEX) concluded its second road show to London on
23-24 June 2011. Mr. Ahmad Aweidah, Chief Executive Officer of PEX, headed
the Palestinian delegation of four leading listed companies; Palestine
Telecommunications (PALTEL), PADICO Holding, Bank of Palestine and Wataniya
Palestine Mobile, in addition to Dr. Mohammad Mustafa, Economic Advisor of
President Mahmoud Abbas and Chairman of the Palestinian Investment Fund, CEO
of the Palestine Capital Markets Authority, and Rasmala Palestine Equity
Fund.
(Photo:
http://www.newscom.com/cgi-bin/prnh/20110630/465315 )
The Palestine business delegation showcased success stories of leading
listed companies and presented investment opportunities in the Palestinian
market. More than thirty (30) meetings were held between the Palestinian
delegation and leading global and UK institutional investors. The delegation
visit generated Media interest from prominent regional and international
financial media. The visit also included a round table discussion with Mr.
David Levin, CEO of UBM and senior representatives from PR Newswire on new
trends in disclosure & investor relations.
London Stock Exchange (LSE) hosted the Palestine Capital Markets Day on
24 June 2011. The occasion was marked with the opening of the London Stock
Exchange Markets by Mr Ahmad Aweidah, CEO of the Palestine Exchange and Mr.
Ammar Aker, CEO of Paltel Group (Sponsors). The Lord Mayor of the City of
London, Alderman Michael Bear and Dr. Mohammad Mustafa, Economic Advisor to
president Mahmoud Abbas also attended the ceremony together with senior
representatives from LSE & the Palestinian delegation.
On the sidelines of the road show activities, PADICO holding signed a
memorandum of understanding on issuing the first Palestinian Global
Depository Receipts (GDR) with the Bank of New York Mellon.
Aweidah expressed his satisfaction from the level of interest expressed
by the investment community in London. "Being for the second time in London
and the fact that London is the world's financial hub can be a very
important channel in steering investment flows into Palestinian listed
stocks. PEX plans to conduct an annual event in London especially now that
PEX has proven to be a robust Exchange among its emerging markets peers,"
Aweidah confirmed.
"Our event comes at a very opportunistic time when our exchange presents
both strong returns on investment and attractive valuations. Indeed so far
this year the Palestinian Al-Quds Index remains the best performing among
Arab exchanges and we therefore continue to represent untapped investment
potential," Aweidah concluded.
Ammar Aker, CEO of Paltel Group, said: "We at the Paltel Group are very
happy with our listing at the Palestine Exchange. The exchange in 2010 was
the most rewarding in terms of return on investment averaging 13.6%; with
distributed dividends exceeding USD 152 million. Paltel Group contributed
USD$74.26 million to these dividends, a ratio of 49%. We will continue to
lead with our innovation and positive outlook for the future. Our free float
of 51.9% allows more investors to seriously come into our market and own our
stock. Once they own our stock, they can be part of our promise. While
maintaining our gains from 2010 our strategy will focus on additional
diversification of our revenue streams from data communications, while
developing our backbone for more content channeling in the fixed line
operations. For our mobile operations, the future is in 3G technology, and
multimedia applications, we are certainly determined to use these new
platforms to increase our market share and benefit from the good remaining
penetration rate. We see growth indicators in all our operations for 2012
and certainly will channel this growth back to our investors in our
consistent dividends policy."
The second PEX road show to London was organized in partnership with
Paltel Group (Sponsors) and is in line with the strategic outlook of PEX to
attract local, regional and international investors into the Palestinian
stock market.
About the Palestine Exchange (PEX)
The Palestine Exchange (PEX) was established in 1995 as a private
shareholding company. It became a public shareholding company in 2010
responding to principles of transparency and good governance.
For nearly 14 years, PEX has maintained its presence under challenging
political and economic conditions. It has positioned itself as a robust
exchange among its emerging markets peers with a return on investment of
about 6% over the last five years. PEX is recognized for its advanced and
effecient working environment. As of June 1, 2011, 46 companies are listed
on PEX with market cap of some $2.9 billion across five sectors: Banking and
Financial Services, Insurance, Investments, Industry, and Services. 78% of
listed companies are profitable as of Q1 2011. PEX had 10 member brokerage
firms as at 1 June 2011.
2010 saw the most generous dividend distribution given the outstanding
performance of many PEX listed companies, (35) out of (46) companies were
profitable in 2010. Dividends in 2010 exceeded 152m USD, with an average
return on investment of 13.6%. The Al-Quds Index led all Arab markets'
indices as at 31 March 2011 where it closed up by 1.65% compared to the
close of 2010 and was the only Arab exchange in positive territory. Up until
26 June 2011 it remains the only Arab exchange index in positive territory.
About Paltel Group
Paltel Group is an integrated holding company consisting of the
Palestine Telecommunications Co. (Paltel) the nation's first fixed line
operator, the Palestine Cellular Communications Co. (Jawwal) the first
mobile operator, Hadara, a data services provider, Hulul the IT support
services provider and Palmedia, a multi media service provider. Today, the
Mobile arm has roughly 2.24M subscribers; Fixed Line has 375,000
subscribers, and 125,000 ADSL subscribers.
Paltel's net earnings grew from USD$ 8.6 million in 2000 to USD$ 121
million in 2010. Paltel stock represents the Palestine Stock Exchange (over
50% of daily turnover) bringing its value up and is attracting regional
investors to the Palestine Capital Markets.
Paltel Group recently restructured operations, focusing on core services
while reducing expenses and guaranteeing new services. Paltel's objective is
to grow the market and its share by focusing on internet, data services and
incentive packages while increasing infrastructure solutions.
Contact Information
Fida Musleh/Azar
Manager of PEX Representative Office-Ramallah, Manager of Public
Relations
Palestine Exchange (PEX)
Email: fida.azar@pex.ps
Tel: +970(or 972)-9-2390-999 Fax: +970(or 972)-9-2390-998
http://www.pex.ps
PalestineExchange [http://www.facebook.com/PalestineExchange ]
Photo:
http://www.newscom.com/cgi-bin/prnh/20110630/465315
Source: The Palestine Exchange (PEX)
.
The Palestine Exchange (PEX) Concludes Second Investment Road Show to London, UK
LONDON, June 30, 2011/PRNewswire/ --
- Aweidah: PEX Maintains a Strong Record of Investment Returns and
Attractive Valuations
The Palestine Exchange (PEX) concluded its second road show to London on
23-24 June 2011. Mr. Ahmad Aweidah, Chief Executive Officer of PEX, headed
the Palestinian delegation of four leading listed companies; Palestine
Telecommunications (PALTEL), PADICO Holding, Bank of Palestine and Wataniya
Palestine Mobile, in addition to Dr. Mohammad Mustafa, Economic Advisor of
President Mahmoud Abbas and Chairman of the Palestinian Investment Fund, CEO
of the Palestine Capital Markets Authority, and Rasmala Palestine Equity
Fund.
(Photo:
http://www.newscom.com/cgi-bin/prnh/20110630/465315 )
The Palestine business delegation showcased success stories of leading
listed companies and presented investment opportunities in the Palestinian
market. More than thirty (30) meetings were held between the Palestinian
delegation and leading global and UK institutional investors. The delegation
visit generated Media interest from prominent regional and international
financial media. The visit also included a round table discussion with Mr.
David Levin, CEO of UBM and senior representatives from PR Newswire on new
trends in disclosure & investor relations.
London Stock Exchange (LSE) hosted the Palestine Capital Markets Day on
24 June 2011. The occasion was marked with the opening of the London Stock
Exchange Markets by Mr Ahmad Aweidah, CEO of the Palestine Exchange and Mr.
Ammar Aker, CEO of Paltel Group (Sponsors). The Lord Mayor of the City of
London, Alderman Michael Bear and Dr. Mohammad Mustafa, Economic Advisor to
president Mahmoud Abbas also attended the ceremony together with senior
representatives from LSE & the Palestinian delegation.
On the sidelines of the road show activities, PADICO holding signed a
memorandum of understanding on issuing the first Palestinian Global
Depository Receipts (GDR) with the Bank of New York Mellon.
Aweidah expressed his satisfaction from the level of interest expressed
by the investment community in London. "Being for the second time in London
and the fact that London is the world's financial hub can be a very
important channel in steering investment flows into Palestinian listed
stocks. PEX plans to conduct an annual event in London especially now that
PEX has proven to be a robust Exchange among its emerging markets peers,"
Aweidah confirmed.
"Our event comes at a very opportunistic time when our exchange presents
both strong returns on investment and attractive valuations. Indeed so far
this year the Palestinian Al-Quds Index remains the best performing among
Arab exchanges and we therefore continue to represent untapped investment
potential," Aweidah concluded.
Ammar Aker, CEO of Paltel Group, said: "We at the Paltel Group are very
happy with our listing at the Palestine Exchange. The exchange in 2010 was
the most rewarding in terms of return on investment averaging 13.6%; with
distributed dividends exceeding USD 152 million. Paltel Group contributed
USD$74.26 million to these dividends, a ratio of 49%. We will continue to
lead with our innovation and positive outlook for the future. Our free float
of 51.9% allows more investors to seriously come into our market and own our
stock. Once they own our stock, they can be part of our promise. While
maintaining our gains from 2010 our strategy will focus on additional
diversification of our revenue streams from data communications, while
developing our backbone for more content channeling in the fixed line
operations. For our mobile operations, the future is in 3G technology, and
multimedia applications, we are certainly determined to use these new
platforms to increase our market share and benefit from the good remaining
penetration rate. We see growth indicators in all our operations for 2012
and certainly will channel this growth back to our investors in our
consistent dividends policy."
The second PEX road show to London was organized in partnership with
Paltel Group (Sponsors) and is in line with the strategic outlook of PEX to
attract local, regional and international investors into the Palestinian
stock market.
About the Palestine Exchange (PEX)
The Palestine Exchange (PEX) was established in 1995 as a private
shareholding company. It became a public shareholding company in 2010
responding to principles of transparency and good governance.
For nearly 14 years, PEX has maintained its presence under challenging
political and economic conditions. It has positioned itself as a robust
exchange among its emerging markets peers with a return on investment of
about 6% over the last five years. PEX is recognized for its advanced and
effecient working environment. As of June 1, 2011, 46 companies are listed
on PEX with market cap of some $2.9 billion across five sectors: Banking and
Financial Services, Insurance, Investments, Industry, and Services. 78% of
listed companies are profitable as of Q1 2011. PEX had 10 member brokerage
firms as at 1 June 2011.
2010 saw the most generous dividend distribution given the outstanding
performance of many PEX listed companies, (35) out of (46) companies were
profitable in 2010. Dividends in 2010 exceeded 152m USD, with an average
return on investment of 13.6%. The Al-Quds Index led all Arab markets'
indices as at 31 March 2011 where it closed up by 1.65% compared to the
close of 2010 and was the only Arab exchange in positive territory. Up until
26 June 2011 it remains the only Arab exchange index in positive territory.
About Paltel Group
Paltel Group is an integrated holding company consisting of the
Palestine Telecommunications Co. (Paltel) the nation's first fixed line
operator, the Palestine Cellular Communications Co. (Jawwal) the first
mobile operator, Hadara, a data services provider, Hulul the IT support
services provider and Palmedia, a multi media service provider. Today, the
Mobile arm has roughly 2.24M subscribers; Fixed Line has 375,000
subscribers, and 125,000 ADSL subscribers.
Paltel's net earnings grew from USD$ 8.6 million in 2000 to USD$ 121
million in 2010. Paltel stock represents the Palestine Stock Exchange (over
50% of daily turnover) bringing its value up and is attracting regional
investors to the Palestine Capital Markets.
Paltel Group recently restructured operations, focusing on core services
while reducing expenses and guaranteeing new services. Paltel's objective is
to grow the market and its share by focusing on internet, data services and
incentive packages while increasing infrastructure solutions.
Contact Information
Fida Musleh/Azar
Manager of PEX Representative Office-Ramallah, Manager of Public
Relations
Palestine Exchange (PEX)
Email: fida.azar@pex.ps
Tel: +970(or 972)-9-2390-999 Fax: +970(or 972)-9-2390-998
http://www.pex.ps
PalestineExchange [http://www.facebook.com/PalestineExchange ]
Photo:
http://www.newscom.com/cgi-bin/prnh/20110630/465315
Source: The Palestine Exchange (PEX)
.