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Gulf portfolios continue targeting PALTEL share, and Al-Quds index earns 11.26 points.

2008-04-14

Al-Quds index earned yesterday in the beginning of this week by 11.26 points, through intensive transactions that exceeded $12 million, intensified by massive demands by outsider portfolios on PALTEL share. Al-Quds index closed at the level of 690.20 points versus 678.94 at the of the previous session increasing by %1.66. Outsider investment portfolios kept targeting the PALTEL after the board of directors" statements that assured that there are negotiations regarding selling a portion in PALTEL to potential Arab strategic partners. PALTEL constituted %68.90 from PSE aggregate trading value through trading value of $8.40, it closed at the level of 7.55 JD increasing by %2.72 despite what is costumed of the share"s price decline after the general assembly approval for profit distribution. The general assembly approved distributing %25 as cash dividends. A financial broker stated " there are huge bids on PALTEL from outsider investment portfolios which are gulf portfolios, and the statement that had been published yesterday may contributed in this"