Arab Palestinian Investment Company's Secondary Offering to Shareholders Oversubscribed by 81%, Reaching USD 54.3 Million Despite Adversity in Palestine
RAMALLAH, Palestine, March 24, 2025 /PRNewswire/ -- Arab Palestinian Investment Company (APIC) announced today that its secondary offering to shareholders was significantly oversubscribed by 81%, surpassing the targeted capital of USD 30 million to reach USD 54.3 Million. This strong response reflects shareholder confidence in the company's strategic vision and long-term resilience despite the severe economic and geopolitical challenges facing Palestine and the region.
In his statement, APIC's Chairman and CEO Tarek Omar Aggad, emphasized that the success of the offering reflects shareholder trust in the company's ability to navigate adversity while driving sustainable growth. "We are deeply humbled by this overwhelming vote of confidence from our shareholders," Aggad stated. "Our shareholders' steadfast belief in APIC's future, even in these trying times and uncertainty, affirms the strength of our company and the resilience of Palestine's business community."
Aggad added that the additional capital of USD 30 million will fortify the company's financial position, enhance liquidity and support the expansion plans of its subsidiaries. It will also provide greater financial flexibility, ensuring the company can navigate challenges efficiently and effectively. APIC remains committed to its strategic vision of investing in key economic sectors that contribute to Palestine's economic growth while expanding the footprint of its subsidiaries, both regionally and globally.
APIC is a public shareholding investment company listed on the Palestine Exchange (PEX: APIC). It holds diversified investments across the manufacturing, trade, distribution and service sectors in Palestine, Jordan, Saudi Arabia, the United Arab Emirates, Iraq and Turkey through its group of subsidiaries and affiliates: Siniora Food Industries Company; Unipal General Trading Company; Palestine Automobile Company; Medical Supplies and Services Company; National Aluminum and Profiles Company (NAPCO); Reema Hygienic Paper Company; Sky Advertising and Promotion Company; Arab Leasing Company; Qudra Renewable Energy Solutions and Arab Palestinian Storage and Cooling Company, employing over 3200 staff through its group of subsidiaries. For more information, visit https://apic.ps/
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SOURCE Arab Palestinian Investment Company (APIC)
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