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Five external funds set to invest Palestine Securities Exchange

2010-03-07

The CEO of Palestine Development and Investment (PADICO) Dr. Samir Hleileh revealed that the company is in negotiations - now in its final stages - with five foreign funds: U.S., British and Gulf to inject investments by these funds in Palestinian stocks. Hleileh said Al- Ayyam Newspaper “We are witnessing unprecedented interest from foreign funds for investing in the Palestinian stocks; in the last period we met representatives of a number of these funds came to study investment opportunities in Palestine Stock Exchange, there are at least five funds that we have come a long way ahead with them, from the United States, Britain and the Gulf region, and there are further meetings with them later this month, to complete the negotiations”. He added “negotiations are currently implemented about the potential purchase transactions by these funds in the shares of a number of listed Palestinian companies- at least five - there is also interest from some of these funds to buy shares in the market of Palestine Securities Exchange, which was approved by the Ministry of National Economy last month to be converted into a public shareholding company”. It is expected to hold crucial meetings with some of these funds on the sidelines of a promotional tour organized by Palestine Securities Exchange in London on 18 and 19 March, which will involve in addition to the market and the Capital Market Authority, representatives of investment companies, banks and brokerage firms, which aims mainly to attract foreign investment to the Palestinian market. It is scheduled to hold a Board of Directors of "PADICO", in Amman today; a meeting to complete discussions that begun last week regarding the company"s plans for the current year and the financial results of last year, and plans for the disposal of profits.