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Palestine Exchange to list its own shares Wednesday, the 4th of April 2012

2012-04-03

Palestine Stock Exchange PEX is organizing a special ceremony to celebrate listing its own shares and becoming a publicly traded stock itself, tomorrow the 4th of April 2012, coinciding with the 15th anniversary of its founding. This listing is the first in the current year 2012, which will raise the number of listed companies to 47 companies with a market capitalization of $2.8 billion.

The CEO of the PEX, Mr. Ahmad Aweidah, considered this event as an important developing for the Palestinian national economy in general, and the capital market sector in particular, considering the PEX as a barometer of the economic performance, and emphasizing that this listing is an incentive to continue the effort to develop suitable investment environment in cooperation with all partners, despite the exceptional circumstances that the Palestinian are witnessing.

The PEX organized a meeting with the general managers of the member securities companies, whereby it provided detailed information concerning “Palestine Securities Exchange PSE” about its shares, financial and operational performance, financial indicators, governance, dividends distributing policy and future plans.

IT is worth mentioning that PAIDCO Holding established the Palestine Securities Exchange (PSE) in 1995 to promote investment in Palestine. The PSE was established as a private shareholding company and was fully automated upon establishment- a first amongst the Arab Stock Exchanges; it held its first trading session on 18 February 1997. Its capital is worth $10 million. And it is registered in the Ministry of National Economy as the only party empowered to manage and regulate the securities market in Palestine under the No. (12) Law for the year 2004 and the supervision of the Palestinian Capital Market Authority PCMA. The PSE became a public shareholding company in 2010 responding to principles of transparency and good governance and launched its new corporate identity with the Palestine Exchange (PEX) as its brand name, and "Palestine of Opportunities" as its slogan.