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Rasmala’s Palestinian Stock Market Report 2012: “We see the Palestinian market as a compelling investment story offering low multiples and high dividend yields.”

2012-12-12

Dubai, December 11, 2012: Rasmala Investment Bank Ltd (“Rasmala”) has announced the release of its first sell-side Palestinian market report, “Palestine, Opportunities in Frontier Market”, covering the Palestinian market and the three largest listed stocks there: Paltel Group, Bank of Palestine, and PADICO. By publishing this report, Rasmala is considered the first GCC investment bank offering an in-depth outlook of this uncovered market.  In this report, Rasmala initiates coverage on three stocks representing 56% of the total market cap of the Palestine Exchange: Paltel Group, Bank of Palestine and PADICO HOLDING. Rasmala believes this typical frontier market offers a compelling opportunity to invest in companies with strong fundamentals, relatively low multiples and high dividend yields.  Paltel Group (Paltel) has a Buy recommendation and JOD6.10/share target price, suggesting 24% upside potential. Paltel, the bellwether of the Palestinian stock market, has a strong balance sheet and, in Rasmala’s view, can sustain a healthy dividend pay-out. Bank of Palestine has a Buy recommendation and a target price of US$3.55/share, suggesting 26% upside potential. Bank of Palestine is the largest listed bank in the Palestinian market and is also one of the largest listed companies on the Palestine Exchange, representing about 13% of the market cap of the index. PADICO HOLDING (PADICO), the third-largest listed stock on the Palestine Exchange, has a Hold recommendation and a target price of US$1.05. PADICO is a listed investment company that invests in vital economic sectors in Palestine.This report also covers other aspects related to the Palestinian market, such as: the Palestinian Exchange, macroeconomic perspectives, demographics, and some investment sectors. Commenting on the new Palestinian report, Mr. Anwar Abu Sbaitan, Chief Executive Officer of Rasmala, said: “This report is an important landmark for Rasmala in taking the initiative to cover the Palestinian market, which we believe is insufficiently covered and full of investment opportunities. Rasmala has already established the first Palestinian equity fund domiciled in Luxemburg in collaboration with Palestine Investment Fund (“PIF”), managing around USD 35 million as of November 2012. Now, Rasmala is taking another initiative by publishing a report covering this stock market, which will hopefully engender dialogues with potential investors.”

 

Rasmala:

Rasmala is a leading regional Investment Banking Group, with offices in Saudi Arabia, United Arab Emirates, Oman and Egypt. Rasmala Holdings Ltd manages about $1 billion of assets for institutional and private clients. Rasmala specializes in asset management across MENA markets in both — conventional and sharia’a compliant strategies in the fixed income, money market and equity asset classes.


 

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SANAD records net income of $10.05 million at the end of 2017

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BPC records net income of $10.28 million at the end of 2017

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WATANIYA realizes net losses of $6.64 million at the end of 2017

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NCI posts net income of $0.16 million at the end of 2017

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AHC realizes net losses of JD1.52 million at the end of 2017

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JPH records net income of $6.18 million at the end of 2017

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JREI posts net income of $0.01 million at the end of 2017

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MIC posts net income of $3.26 million at the end of 2017

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LADAEN records net losses of JD0.05 million at the end of 2017

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PIIC records net income of JD5.50 million at the end of 2017

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AZIZA posts net income of JD3.18 million at the end of 2017

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APC proposes 50% cash dividends for the year 2017

2018-02-18
PALTEL recommends 40% cash dividends for the year 2017

2018-02-18
GUI proposes 20% stocks dividends and 10% cash dividends for the year 2017

2018-02-18
NIC proposes 25% stocks dividends and 25% cash dividends for the year 2017

2018-02-18
ELECTROODE proposes 12% cash dividends for the year 2017

2018-02-18
NAPCO proposes 5% cash dividends for the year 2017

2018-02-18
BOP proposes 13.5% cash dividends for the year 2017

2018-02-18
TRUST proposes 50% stocks dividends and 20% cash dividends for the year 2017

2018-02-15
A momentum in the dividends proposals and varied financial performance for the blue-chips

2018-02-15
TNB posts net income of $9.20 million at the end of 2017

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AQARIYA posts net income of JD 0.39 million at the end of 2017

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PALTEL posts net income of JD70.53 million at the end of 2017

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PALAQAR records net income of JD3.77 million at the end of 2017

2018-02-15
GUI records net income of $3.77 million at the end of 2017

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PEC posts net income of $8.64 million at the end of 2017

2018-02-15
GMC posts net income of JD1.78 million at the end of 2017

2018-02-15
TIC records net income of $2.19 million at the end of 2017

2018-02-15
BJP posts net income of JD1.64 million at the end of 2017

2018-02-15
ISBK records net income of $14.53 million at the end of 2017

2018-02-15
PICO reports net income of $4.79 million at the end of 2017

2018-02-13
TRUST records net income of $5.43 million at the year 2017

2018-02-13
PSE reports net income 0.68 million at the year 2017

2018-02-13
BPC proposes 2.7% stocks dividends and 20% cash dividends for the year 2017

2018-02-13
ELECTRODE posts net income JD0.07 million at the year of 2017

2018-02-12
VOIC posts net income of JD6.83 million at the end of 2017

2018-02-11
APIC reports net income of $17.44 million at the end of 2017

2018-02-08
Inactivity state in the market with the approaching end of the disclosures’ period

2018-02-08
VOIC recommends 60% cash dividends for the year 2017

2018-02-07
QUDS posts net income of $11.18 million for the year 2017

2018-02-06
ARAB reports net income of JD0.05 million for the year 2017

2018-02-05
PCMA and JSC signed memorandum of understanding

2018-02-05
BOP proposes distributing 13.5% cash dividends for the year 2017

2018-02-05
Nasdaq and Palestine Exchange sign new market technology agreement

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NAPCO records net income of JD0.46 million at the end of 2017

2018-02-01
Several transactions in the PEX and the companies have started their disclosures

 

 

 
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