Arab Palestinian Investment Co. Approves USD 30M Capital Increase
by Arab Palestinian Investment Company
Arab Palestinian Investment Company convened its extraordinary general assembly
on Thursday, February 6, 2025, in Ramallah, Palestine. The meeting was chaired by
Chairman and CEO Tarek Aggad and attended by members of the company’s Board
of Directors, representatives from the Ministry of National Economy, the Palestine
Capital Market Authority, the legal counsel of the company and many of its
shareholders.
In its meeting, the general assembly ratified the resolution of the Board of Directors
to increase the company’s authorized capital by USD 35 million, from USD 125 million
to USD 160 million. The general assembly also approved and ratified the resolution
of the Board of Directors to increase the company’s subscribed capital by USD 30
million through a secondary public offering to the company’s shareholders of record
as of the date of the meeting of the extraordinary general assembly at an issuance
price of one US dollar per share which represents the nominal value of each share.
In his remarks, Aggad explained that the capital increase aims to strengthen the
company’s financial base, solidify its balance sheet, and expand its ability to capture
new ventures, accelerate subsidiaries’ growth, stabilize cash flows, and fulfill financial
commitments with greater resilience.
