Arab Palestinian Investment Company

Arab Palestinian Investment Company

Company type	public
Industry	holding company
Founded	September 1994
Headquarters	Amman , Jordan
Area served	Palestine, Jordan, Saudi Arabia
Key people	Tarek Aggad (Chairman and CEO) Omar Aggad (founder)

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.[1][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..[1]

References

1. "About APIC The Arab Palestinian Investment Company (APIC)". APIC. Archived from the original on 31 May 2016. Retrieved 11 April 2016.
2. "APIC Home Page". APIC. Archived from the original on 30 July 2018. Retrieved 4 May 2016.
3. "Arab Palestinian Investment Company | Zawya". zawya.com. Retrieved 10 September 2016.
4. "Investcorp Bank B.S.C.: Board of Directors - Businessweek". Bloomberg. Retrieved 4 May 2016.
5. Kirdar, Nemir (13 September 2012). In Pursuit of Fulfilment. ISBN 9780297869511. Retrieved 4 May 2016.
6. "AICO Home Page". AICO. Retrieved 4 May 2016.
7. Blau, Uri; Dolev, Daniel (7 April 2016). "Panama Papers: Leaks Reveal Abbas' Son's $1m Holding in Company With Ties to Palestinian Authority". Haaretz. Retrieved 11 April 2016.
8. Seib, Gerald (1986). Facing the Recession In Saudi Arabia Taxes A Businessman's Skills; Omar Aggad Slashes Costs, Ponders Diversification (1st ed.). ISBN 0879519711.

External links

Official website