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AMON – – The Social Security Fund has bought 6.3 million shares of Arab Bank to raise its share to 16.9% of the group's 640.8 million shares, while the party selling the debt was free.
The purchase was carried out by the MFA on the Arab Stock Exchange through 6 transactions of a price of 6.25 JD per share, with a total value of 39.3 million JD and of a total volume of 44.5 KD and 10.8 million shares traded through 1,817 transactions.
It should be noted that the mutual fund invests in 12 local banks, representing between 2% and 21% of the total amount of their funds. Preliminary data from the 2018 Investment Guarantee Fund showed that the total market value of these shares, $ 1.2 billion From the total portfolio of BD 10.2 billion. Arab action closed at a price level of 6.43 dinars per share.
In February 2017, the chairman of Arab Bank, Subhi Al Masri, and other investors sold a 20% stake in Al-Horari Bank if the shares of the holding company Oujda Mid-East sold 127 million shares Al Arabi at 6.25 dinars Among the shares, bringing the total of these transactions to 793 million dinars or more
$ 1.12 billion and the Oujda East Holding Medal, owned by the Al-Hurri family, were transferred to an Egyptian-led investor group, which led the negotiation process with the family, before the Egyptian decision is taken.
It should be mentioned that the shares purchased yesterday received the cash dividends from Arab Bank after the Arab Bank group had achieved strong performance in 2018. The group's net profits after tax and provisions rose to $ 5.8 million at the end of 2018, compared to $ 533 million at the end of the year While earnings were up
Taxes: 1.1 billion USD. The board of directors of Arab Bank has recommended to distribute cash dividends to shareholders of 45% for 2018 and 418 million US dollars.
The general index of stock prices of the Amman Stock Exchange closed yesterday at 1945,15 points with a decrease of 0.33%
The shares of 100 companies were traded, their price increased by 50 companies, and 44 companies posted lower prices.
At the sectoral level, the industrial sector decreased by 1.24%, the services sector by 0.21% and the financial sector by 0.12%. (Al-Ghad – Yousef Damra)
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