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Ramallah, Palestine, June 20th, 2011: The Palestine Exchange (PEX) announced today that it will bring PEX select listed companies to present their investment promise to UK investors during the Palestine Capital Markets Day at the London Stock Exchange (LSE) on June 24th , 2011. PEX will also present investment opportunities in the exchange as well as a presentation on opportunities in the Palestine economy and for international investors by Dr. Mohammad Mustafa, Economic Adviser to President Mahmoud Abbas & Chairman of the Palestine Investment Fund. The day will also include networking one on one meetings with UK fund managers and analysts. The Palestine Capital Markets Day is organized by the Palestine Exchange (PEX) in partnership with LSE and is sponsored by Paltel Group.
Ahmad Aweidah, CEO of PEX, said that the upcoming Palestine Capital Markets Day at the LSE comes at a time when the PEX has just announced positive milestone results for 2010 in comparison to other Arab Exchanges. Aweidah indicated that 2010 saw the most generous dividend distribution responding to the outstanding performance of many PEX listed companies, (35) out of (46) companies were profitable in 2010. “The PEX is one of the most rewarding exchanges in the region in terms of return on investment. Dividends in 2010 exceeded 152m USD, with an average return on investment of 13.6% . Today we have an attractive valuation of listed stocks on PEX where half are trading below their book values” Aweidah stated.
The Al-Quds Index led all Arab markets’ indices as at 31 May 2011 where it closed up by 1.88% compared to the close of 2010. Up until 19 June 2011, it remains the best performing among Arab exchange indices. So we continue to represent an untapped investment opportunity in comparison with the region” Aweidah concluded.
Among the listed Companies participating in the Palestine Capital Market day at LSE are: Palestine Telecommunications (Paltel); Palestine Development & Investment (Padico); Bank of Palestine (BoP); Wataniya Mobile (Wataniya); in addition to the Rasmala Palestine Equity Fund; Palestine Capital Market Authority and the Palestine Exchange (PEX) itself.