Arab Palestinian Investment Company Explained

Arab Palestinian Investment Company
Type:public
Foundation:September 1994
Location City:Amman
Location Country:Jordan
Key People:Tarek Aggad (Chairman and CEO)
Omar Aggad (founder)
Area Served:Palestine, Jordan, Saudi Arabia
Industry:holding company

Arab Palestinian Investment Company is a Palestinian–Jordanian company headquartered in Ramallah, Palestine. It was founded in September 1994 by several Arab businessmen to channel investment into Palestine.[1] Since its founding, APIC has become one of the largest operators in Palestine, employing over 3000 employees. Subsidiaries of APIC offer a wide array of products and services through distribution rights agreements with multinational companies that include Philip Morris, Procter & Gamble, Kellogg's, Hyundai, Chrysler, Dodge, Jeep, Alfa Romeo, Fiat, Fiat Professional, XL Energy, Abbott, B. Braun, Eli Lilly, GlaxoSmithKline, Sanofi Aventis and Nivea, among many others.[2] APIC is located in Amman, Jordan and Ramallah, Palestine.[3]

APIC was registered in the British Virgin Islands in September 1994. In 1996, it was registered with Palestine's Ministry of National Economy as a foreign private shareholding company, and became into a foreign public shareholding company in 2013.[4] [5] In March 2014, APIC shares were listed on the Palestine Exchange (PEX: APIC).[6] Its authorized capital is US$125 million, and its paid-up capital is US$112 million as of December 2022.[7]

As an investment holding company, APIC's investments are diverse, spanning across the manufacturing,[8] trade, distribution and service sectors, with a presence in Palestine, Jordan, Saudi Arabia and the United Arab Emirates through its nine subsidiaries, which include National Aluminum and Profiles Company (NAPCO); Siniora Food Industries Company; Unipal General Trading Company; Palestine Automobile Company; Medical Supplies and Services Company; Sky Advertising and Promotion Company; Arab Leasing Company; and the Arab Palestinian Storage and Cooling Company..

Notes and References

  1. Web site: About APIC The Arab Palestinian Investment Company (APIC). APIC. 11 April 2016. 31 May 2016. https://web.archive.org/web/20160531095123/http://apic.ps/page.php?id=2526y9510Y2526. dead.
  2. Web site: APIC Home Page. APIC. 4 May 2016. 30 July 2018. https://web.archive.org/web/20180730202530/http://www.apic.ps/english.php. dead.
  3. Web site: Arab Palestinian Investment Company | Zawya. zawya.com. 10 September 2016.
  4. Web site: Investcorp Bank B.S.C.: Board of Directors - Businessweek. Bloomberg. 4 May 2016.
  5. Book: In Pursuit of Fulfilment. 9780297869511 . 4 May 2016. Kirdar . Nemir . 13 September 2012 .
  6. Web site: AICO Home Page. AICO. 4 May 2016.
  7. News: Blau. Uri. Dolev. Daniel. Panama Papers: Leaks Reveal Abbas' Son's $1m Holding in Company With Ties to Palestinian Authority. 11 April 2016. Haaretz. 7 April 2016.
  8. Book: Seib, Gerald . 1986 . Facing the Recession In Saudi Arabia Taxes A Businessman's Skills; Omar Aggad Slashes Costs, Ponders Diversification . 0879519711 . 1st .