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Palestinian stocks under the rapture of PALTEL-ZAIN deal

2009-02-01

Finally the strategic partnership deal in Palestine Telecommunications Company PALTEL had exited from listing, and became certain by now that the partner company is ZAIN Mobile Telecommunications, where the negotiations had reached to final stages that had been culminated with the ratification of the "PALTEL"s board of directors on the deal"s framework by authorizing the board chairman Mr.Sabeih Al Masri to carry out the negotiations. It hadn’t been specified the quota of the shares yet awaiting for the results of ZAIN Jordan"s assets evaluation, that is scheduled to be completed by international audit company and submit its report to the parties on 9 February. For the purposes of entering the ZAIN as strategic partner, the Board of Directors will recommend to the irregular general assembly to raise the company"s capital by new offering which"s value and volume will be determined after the completion of the assessment ZAIN Jordan. Palestine Securities Exchange halted the share of PALTEL from trading on Wednesday, based on the request of the Board of Directors, as the company"s share had been halted from trading in Abu Dhabi Stock Exchange in the following day, until convening the irregular general assembly for the verification of the transaction and the capital increase. Palestine is a part of a regional network without roaming charges, and by completing the transaction, JAWWAL that is follower to PALTEL will be a part of ZAIN, which in its turn covers 5 countries in the Middle East, namely: Saudi Arabia, Jordan, Iraq, Bahrain and Sudan, and 6 other countries in Africa, are: Kenya, Tanzania, Uganda and the Democratic Republic of the Congo, Congo and Gabon, as it seeks to join 6 other countries to the unified network in the Middle East and Africa, including Kuwait, Lebanon and Ghana. In total ZAIN covers 54 million subscribers in 16 countries with international roaming charges. The news of the deal had been whipped widely among the investors and even the ordinary street since the ending of last year, until it had been confirmed by the Board of Directors at a meeting held in the Jordanian capital in this January 27. During this period, the shares PALTEL and PADICO witnessed intensive bid volumes by investors, which led the two shares to rise since the beginning of the year by %17.81 and %16.53 respectively, which constitute the lifting arm for Al-Quds index in the PSE which had gained by 68.56 or by %15.52 washing by that %96 from its losses in 2008.  

 

 

 

2017-08-17
Medium liquidity with the end of the legal semi-annual disclosures’ period

2017-08-16
PADICO posts net income of $7.46 million in H1 2017

2017-08-16
PRICO realizes net loss of JD1.28 million in H1 2017

2017-08-16
WASSEL reports net income of 0.07 million in H1 2017

2017-08-16
JCC reports net income of JD0.27 million in H1 2017

2017-08-16
AZIZA reports net income of JD2.20 million in H1 2017

2017-08-16
PID realizes net loss of JD0.03 million in H1 2017

2017-08-16
PIIC records net income of JD3.33 million in H1 2017

2017-08-16
PIBC records net income of $1.97 million in H1 2017

2017-08-16
LADAEN realizes net loss of JD0.50 million in H1 2017

2017-08-15
NCI reports net income of $0.15 million in H1 2017

2017-08-15
PALAQAR reports net income of JD0.07 million in H1 2017

2017-08-15
JREI realizes net loss of $0.17 million in H1 2017

2017-08-15
TIC records net income of $1.33 million in H1 2017

2017-08-15
NSC reports net income of JD0.13 million in H1 2017

2017-08-15
ABRAJ posted net income of $0.18 million in H1 2017

2017-08-14
AQARIYA reports net income of JD0.42 million in H1 2017

2017-08-14
BOP posted net income of $24.72 million in H1 2017

2017-08-14
TRUST posted net income of $2.83 million in H1 2017

2017-08-14
PICO reports net income of $2.13 million in H1 2017

2017-08-14
GMC posted net income of JD0.60 million in H1 2017

2017-08-14
JPH posted net income of $0.76 million in H1 2017

2017-08-14
GUI records net income of $0.96 million in H1 2017

2017-08-14
BPC reports net income of $6.02 million in H1 2017

2017-08-14
TNB records net income of $5.36 million in H1 2017

2017-08-14
PEC reports net income of $5.25 million in H1 2017

2017-08-13
ELECTRODE records net income of JD0.09 in H1 2017

2017-08-13
AIB reports net income of $4.01 million in H1 2017

2017-08-13
NAPCO records net income of JD0.18 million in H1 2017

2017-08-13
APIC reports net income of $7.87 million in H1 2017

2017-08-10
Al-Quds Index increases amid the semi-annual financial data disclosures’ domination

2017-08-09
ARAB records net income of JD0.05 million in H1 2017

2017-08-09
ISBK reports net income of $6.37 million in H1 2017

2017-08-09
APC records net income of JD0.70 million in H1 2017

2017-08-09
MIC posts net income of $1.00 million in H1 2017

2017-08-07
UCI reports net income of $0.54 million in H1 2017

2017-08-07
VOIC posts net income of JD3.39 million in H1 2017

2017-08-07
PSE realizes net loss of $0.10 million in H1 2017

2017-08-07
QUDS reports net income of $6.13 million in H1 2017

2017-08-07
PALTEL records net income of JD33.06 million in H1 2017

2017-08-07
BJP records net income of JD0.59 million in H1 2017

2017-08-03
Executing several transactions raises the market's trading value this week

 

 

 
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