Company Lookup
عربي
Download Demo
 

Market News

This Month News

This Month News

send to a friend by email

Growing anticipation for the annual disclosures and dividends recommendation

2018-01-25

 Sahem Weekly Trading Report (21-25)-014-2018

Al-Quds Index declined by 0.77% in the week before the last of January 2018 with four trading sessions, to close at the level of 578.35 points; affected by a decrease in the prices of most blue-chips than the levels recorded within the routine trading phase at the end of the year 2017. This came despite executing two transactions on the stocks of the largest company by market capitalization- Palestine Telecommunications PALTEL- in the last trading session of the week. On another hand, Palestine Stock Exchange PEX is still witnessing lack of liquidity momentum and price movement deadlock in parallel to the increase in the investors’ anticipation for the listed companies’ annual financial and operational data disclosures for the year 2017 and dividends recommendation. Whereby, with the beginning of February, 15 days remain to the legal period granted by the PEX to the listed companies for the annual disclosures from the 45 granted days. However, the boards of directors accelerate to announce, in this period, the dates of holding their meetings as a prior step to disclose their annual financial data for the year 2017.

Regarding the significant news and after a long waiting period of three years since signing an agreement between the Palestinian Authority and Israel that allow 3G networks to operate in the West Bank only and the delay of implementation by Israel, the two Palestinian cellular providers: Palestine Cellular Company (JAWWAL) – owned by Palestine Telecommunication Company PALTEL – and Wataniya Palestine Mobile Telecommunications WATANIYA - a member of Ooredoo Group – have launched the 3G mobile networks during the week in the West Bank. However it is worth mentioning that the total number of JAWWAL and WATANIYA SIM cards until the third quarter of 2017 hit 3.8 million active cards; 2.5 million SIM cards alone in the West Bank. As the service becomes available for most SIM cards, the minimum speed for 3G services will be 2 MB, while the average speed at peak times will be between 3-4 MB, as explained by a news source.

On the Other hand, The general assembly GA of Wataniya Palestine Mobile Telecommunications WATANIYA held an extraordinary meeting on 23/01/2018, whereby, approved raising the paid-up capital by 13.57% from $258.00 million to $293.00 million through offering $35.00 million shares for secondary subscription to the company’s shareholders each according to his contribution as for the extraordinary general assembly meeting date. It is good to note that the subscription date will be determined later at a price of $1 per share. Also, the board of directors BOD of the National Aluminum & Profile Company NAPCO held a meeting on 23/01/2017, whereby, discussed the ability to distribute 5% cash dividends to its shareholders for the year 2017, to record dividends yield of 7.14%.

 


 


 

 

 
Sahem Trading & Investments Company - PEX Member and licensed by PCMA
© All Rights Reserved 2013