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Palestine Telecommunications raises its shareholding stake in PADICO Holding to 16%

2013-11-14

According to another disclosure that followed the previous disclosure of Palestine Telecommunications PALTEL- the largest company by market capitalization in Palestine Stock Exchange PEX- about purchasing Palestine Investment Fund PIF’s shareholding stake of 13 million shares in Palestine Development and Investment Company “PADICO”, PALTEL announced increasing its ownership in PADICO to around 41 million shares; 16% of PADICO’s paid up capital. Whereby, PALTEL announced completing the deal of owning PIF’s shareholding stake of 13 million shares in PADICO, in addition to purchasing Blakeney Management’s shareholding stake of 19 million shares in PADICO along with purchasing around another 3 million shares offered in the PEX, to bring the total shares purchased in PADICO to around 35 million shares.