Investor Perception Breakthrough for Palestinian Companies
The Palestine Securities Exchange (“PSE”) has completed its first ever London road show on 17-19 March 2010. Showcasing some of its leading listed companies, the PSE arranged a seminar and a parallel series of investor meetings to highlight the real investment opportunity that Palestine offers.During the three day event, seven of Palestine’s leading listed companies, as well as the PSE and the local regulator, the Palestine Capital Markets Authority, met with 10 potential and existing investment funds, eight of whom had never previously considered investing in Palestine. The road show is part of a series of high level networking events in cooperation with British counterparties.The mission is supported by the office of the Quartet Representative, Rt. Hon. Tony Blair and in cooperation with the Portland Trust and the Palestine Britain Business Council (PBBC) in UK. Speaking about the event in his endorsement letter to the PSE, Tony Blair said, “The PSE’s investor road show is one of a series of events to promote Palestine as an opportunity for investors and to work towards changing the international business communities’ perception about the Palestinian market.Palestinian business confidence continues to grow. The Palestine Securities Exchange lies at the heart of these efforts.” PSE CEO, Ahmad Aweidah commented, “We were delighted with the positive reception that we received from the London-based investment community.Many of the people we met this week had not, until very recently, even been aware that Palestine has a stock exchange, let alone that it has been running and thriving for over 13 years, is well regulated, is easy to trade on, and most importantly, has performed much better than many other exchanges regionally and internationally over the last few years.Last year our Al-Quds index finished nearly 12% up over the year, and we are nearly 7% ahead to date this year.The investment opportunity that Palestinian companies offer is now firmly on the map”. Paltel Group CEO, Ammar Aker added, "The Palestinian Exchange currently lists 38 companies, the largest of which is PalTel, the dominant local telecommunications provider. Paltel accounts for 40% of the exchange"s market capitalization, and had net profit of $99 million in 2009. Paltel stock has already been attractive to foreign investors with one major UK holding the stock since 2007. This trip is has enabled us to expose the company’s strength and future promise to additional UK funds and investors.” The London road show was organised in partnership with the Paltel Group. The Palestinian delegation also included senior executives from PSE, member brokerage companies, PSE listed companies, the Palestine Investment Fund (PIF) and Bayti for Real Estate Investment Company.