PADICOPavimentos Diseños y Construcciones, SA (Guatemala)
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PADICO was founded at the outset of the Palestinian-Israeli peace process with the aim of developing the Palestinian economy ready for the independence the Palestinians had hoped to achieve from the negotiations.
According to its website, PADICO also has a majority stake in the Palestinian stock exchange and holds 32 percent of Paltel Group, a telecoms firm which controls one of two mobile phone operators in the Palestinian territories.
PADICO earlier this year completed the first corporate bond issue in the Palestinian territories.
At a press conference in Ramallah, PADICO said it was issuing 7,000 five-year bonds, which will be privately placed and neither traded nor listed on the Palestinian stock exchange.
PADICO said each bond would be issued at a par value of $10,000 and that there would be a minimum subscription of 10 bonds per subscriber.
To reflect positively on PADICO HoldingAAEs share and on capital gains, this short-term plan will help promote PADICO HoldingAAEs capability of distributing growing annual dividends in the future.
In his opening remark, Chairman of PADICO Holding, Munib R.