First Palestinian Commercial Bond Starts Trading

Tuesday, 2 September 2014

September 1, 2014, marked a historical milestone for PEX. The First traded Palestinian bond was listed in the debt instrument sector under the symbol PCB01.
Mr. Ahmad Aweidah, CEO of PEX said that PEX is always eager and capable of listing new investment instruments thanks to its modern regulation, state-of-the-art technology and highly skilled personnel. He hoped that this listing will enhance the market’s liquidity.
The Palestine Commercial Bank issued 10 thousand bonds of $1000 each to raise its capital; the bond maturity is 5 years with a semiannual coupon of 6.5%. the bonds will be converted into stocks upon maturity in 2019 as per the issuance prospectus.