Ooredoo Palestine Announces Completion of Capital Reduction Procedures and Resumption of Share Trading

SadaNews - Ooredoo Palestine, the Palestinian National Mobile Communications Company, announced that it has obtained approval from the Palestinian Capital Market Authority to implement the process of reducing the company's capital, following the approval of the general assembly in its extraordinary meeting.

The company's CEO, Samer Faris, indicated that absorbing the accumulated losses and restructuring the capital on more solid and sustainable foundations would enhance the company's financial position and increase investor confidence.

He also confirmed that adopting a profit distribution policy for the first time represents an important strategic step, which is expected to contribute to supporting long-term share growth and enhancing the market value for shareholders, positively reflecting on investment expansion plans, improving service quality, and bolstering the company's leading position in the telecommunications market in the West Bank and Gaza Strip.

According to the decision, the company's capital has been reduced from 293,000,000 US dollars to 176,611,163 US dollars, by reducing the number of shares to 176,611,163 shares with a nominal value of 1 US dollar per share, in order to cover the remaining accumulated losses.

The company confirmed that after completing all necessary legal procedures, including amending the company's data in the Palestinian Ministry of National Economy Registry, executing the reduction on the shareholders' registry at the depository and transfer center, and meeting the Palestine Stock Exchange requirements, its shares will be re-traded starting from the session on Tuesday, 07/04/2026, in accordance with the relevant regulations and instructions.

In this context, Faris explained that the company has completed all necessary technical preparations to launch 4G services, affirming the company's continued investment in developing the network and digital infrastructure.

He added that the company will continue to enhance its presence in the Gaza Strip, especially during the reconstruction phase, contributing to providing high-quality communication services to all subscribers.

Information about Ooredoo Palestine

Ooredoo Palestine is one of the leading companies of the global Ooredoo Group in the telecommunications and internet sector. Ooredoo Palestine offers mobile communication services with the latest equipment and technology, designed to meet the needs of individual and corporate subscribers.

Ooredoo Palestine is considered one of the companies that places great importance on the community in which it operates. Its vision of enriching the lives of its subscribers, and its belief in its ability to stimulate human development through communications, help community members achieve their utmost aspirations.