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Palestine Exchange seeks frontier status with Morgan Stanley

2011-11-13

The CEO of Palestine Stock Exchange, Mr. Ahmad Aweidah revealed about “advanced negotiations” to sell shares in PEX to Local, Regional & International institutions, in a preliminary step to be listed for trading. Mr. Aweidah said that “there are arrangements to sell a portion of PADICO’s stake to other local & foreign partners, and as soon as this is completed, PEX’s shared will be listed”.

 Mr. Aweidah pointed out that there are attempts to list Palestine Stock Exchange in MSCI Emerging Markets Index; this will draw the attention of many investment funds targeting emerging markets.

 A new company will be listed in Palestine Stock Exchange on the 30th of December 2011; the National Aluminum & Profile Company NAPCO, bringing the number of listed companies in 2011 to 7; which is a unique record in terms of new listings within one year since launching of PEX in 1997.

 The brokerage firms in Palestine Stock Exchange were negatively affected by the weak trading which constitute their main source of income, leading them to a thinks about mergers. In this area, “Jordan & Palestine Financial Investment Company” & “Target Investment & Securities” finished their merging procedures and it is scheduled to announce about the new merged company soon.