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Al-Quds Index breaks through a psychological barrier that has abandoned since July 2024

2025-01-16

 Sahem weekly trading report (12-16)-01-2025

In this week and with reaching an agreement to ceasefire in Gaza, and with the routinely anticipation for the listed companies’ annual financial data and dividends distribution trends for the year 2024 and what will devolve in their financial decisions accordingly, Al-Quds Index recorded noticeable gains of 6.91% than the previous week after trading in a relatively wide range, to breakthrough a psychological barrier that has abandoned since July 2024,  to close at the level of 521.53 points. This mainly resulted from increases in the prices of blue-chips with heaviest weights in Al-Quds Index. While, Palestine Stock Exchange PEX witnessed executing several high-volume cross transactions on the leading stock of Palestine Development and Investment Company PADICO of 58.56 million shares, to raise the trading value to a significantly high level. Where, with the beginning of February, 15 days remain to the legal period granted by the PEX to the listed companies to disclose their financial and operational annual data from the 45 granted days.

Regarding the transactions of Palestine Development and Investment Company PADICO and later to the decision of the board of directors of PADICO in 2024 regarding selling the shares of PADICO owned by its subsidiaries, PADICO disclosed the completion of the selling process of its shares amounting to 58,571,186 shares, at an average price of $1.01 per share, where 58,561,186 were purchased by Masar and Siraj companies (subsidiaries of the Chairman of the Board of Directors), and after the completion of these transactions, 200,000 shares remain owned by PADICO’s subsidiaries.

Regarding the significant news and following the decision of the board of directors BOD of the Arab Palestinian Investment Company (APIC) to increase the Company's authorized capital by $35 million, from $125 million to $160 million in the British Virgin Islands, which was disclosed on 12/01/2025 in Palestine, the BOD decided to increase the Company's subscribed capital by $30 million through a secondary public subscription for the shareholders of the company registered on the date of the specified extraordinary general assembly meeting. The BOD set the date of the extraordinary general assembly meeting to be in Palestine on 06/02/2025 for this purpose.