Market Closed Date 22/09/2017
2011

December

Performance of the Amman Stock Exchange during 2011
Mr. Jalil Tarif, the Chief Executive Officer (CEO) of Amman Stock Exchange (ASE) said that the ASE ended trading for the year 2011. During this year, the trading value reached JD2.9 billion compared to JD6.7 billion for 2010. The ASE price index weighted by free float shares closed at 1995 points, a decrease of 15.9% compared with the closing of 2010 which stood at 2374 points. The number of traded shares also witnessed a decrease during 2011 of 41.7% and reached 4.1 billion shares, traded through 1.3 million transactions, compared with 7 billion shares traded during 2010 through 1.9 million transactions. The share turnover ratio has decreased to reach 58.2% during 2011, compared with 102.2% during 2010.
The non-Jordanian ownership as a percentage of market capitalization of the ASE has increased to 51.0% at the end of November 2011, compared with 49.6% at the end of the year 2010. The net non-Jordanian investments in the ASE has increased by JD83.4 million since the beginning of the year 2011 until the end of November, compared with a decline of JD14.6 million during 2010.
Mr. Tarif added that the ASE has continued its efforts aiming at developing the securities market, where it achieved a number of projects that are meant to strengthen the development and increase the efficiency and transparency of the market; modernize the technical infrastructure, and enhance the information dissemination. The ASE has amended the schedule of trading hours for all traded securities during 2011. Amending the schedule of trading hours comes to provide an additional time to; contact listed companies to disclose all required information and results of general assembly meetings, contact Jordan Capital Market Institutions and other relevant departments regarding procedures of the public shareholding companies and the ASE's members.
Moreover, the ASE amended some articles in the Listing Securities Directives including suspending the trading in the shares of the companies that decide to decrease their capital only after the ASE receives the approval of the Minister of Trade and Industry for the company to decrease its capital. This amendment was made in order to protect the interests of the shareholders by leaving the shares of the companies available for trading until the minister approves the capital reduction, so the investors can have the time to obtain all the necessary information regarding the companies' decision of reducing its capital so they can take their investment decision based on better knowledge before the capital reduction takes place.
Another amendment is regarding the delisting of companies that are ordered by court to start compulsory liquidation in addition to companies whose general assembly decides to start voluntary liquidation, besides delisting the suspended from trading for more than two years.
Two new companies have been listed at the ASE during 2011, bringing the number of listed companies to 247. In addition, the market capitalization of listed shares at the ASE has amounted to JD19.3 Billion, constituting 102.7% of the GDP.

An academic day at Applied Science University

The Chief Executive Officer (CEO) of Amman Stock Exchange (ASE) Mr. Jalil Tarif met the University President of Applied Science University Prof. Dr. Ziad Ramadan. Where they discussed ways of strengthening cooperation between ASE and Applied Science University. Mr. Tarif delivered a lecture entitled "Recent Developments at the ASE" in cooperation with the Business Administration Faculty in the presence of a number of professors and students. Mr. Tarif concentrated on the technical and legislative developments at the ASE and the basic topics relevant to the Jordanian capital market and trading in securities. At the end of the lecture Q&A were answered.

 

S&P Indices and Arab Federation of Exchanges Create S&P AFE 40 Index
Standard & Poor's (S&P) Indices has launched the S&P AFE 40, an index designed to measure the performance of 40 leading companies from the Pan-Arab region. S&P Indices partnered with the Arab Federation of Exchanges (AFE) to create the Index which includes companies from Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Palestine, Qatar, Saudi Arabia, Tunisia and the United Arab Emirates. These companies have been selected according to the Standard & Poor's international standards.
The S&P AFE 40 is comprised of the 40 largest stocks (measured by float-adjusted market capitalization- trading volume) listed on AFE member exchanges. In terms of weighting, the S&P AFE 40 uses a capped market capitalization weighted index scheme, where the maximum weight of any constituent cannot exceed 10% and the maximum weight for each country, based on domicile cannot exceed 35%.
For more information on the S&P AFE 40, please visit: www.standardandpoors.com/indices .

 

Novmber

ASE participates in the Financial Access and Stability Conference

Amman Stock Exchange (ASE) represented by the Chief Executive officer of the ASE, Mr. Jalil Tarif participated in the conference which was organized by the World Bank in collaboration with the Arab Monetary Fund and the Union of Arab Banks and the Central Bank of Lebanon where Mr. Tarif chaired a session entitled "Non Banking Financial Institutions and Capital Market" which held in Beirut on Nonmember 23, 2011. During the conference, a number of important issues were discussed, at the end of the conference Q&A have been raised.

ASE Receives Student Delegations
Amman Stock Exchange (ASE) received student delegations from Finance and Banking Dept. at the University of Yarmouk. During a visit to the Capital Market Institutions, where Mr. Amjad Al-Qudah, the Head of Awareness and Public Relations Dept.briefed them on the latest legislative and technical developments of the Jordan Capital Market and the latest legislative, technological and the basic investment principles at the ASE.

October

The Companies' Third Quarter Reports for the year 2011
The CEO of the ASE Mr. Jalil Tarif said that (88) companies representing (93%) of the overall companies listed at the First Market submitted their quarterly reports reviewed by their auditors within the time limit of receiving their quarterly reports.

By virtue of the ASE (15/B) Listing Directives all companies listed at the First Market must submit their reviewed quarterly reports during the first month that follows the said quarter. Such a step assures the First Market companies' transparency and disclosure in addition to abiding by other strict conditions relating to their financial position, profitability and shares liquidity.Tarif added that the ASE circulates these reports to the brokerage firms, and posts them on the ASE website www.exchange.jo in circulars and disclosures/quarterly reports window.

On the other hand Mr. Tarif said that a number of companies listed at the First Market did not submit their reviewed reports within the time limit, breaching the provision (15/B) of the Directives of Listing Securities on the ASE, these companies are:
Bank Al Etihad, Arab German Insurance, Jordan Press & Publishing/(Ad-Dustour), Arab Real Estate Development, Amwal Invest, Emar Investments and Real Estate Development, The Investors and Eastern Arab For Industrial and Real Estate Investment.

Amman Stock Exchange receives an economic delegation from the French Embassy

The Chief Executive Officer (CEO) of Amman Stock Exchange (ASE), Mr. Jalil Tarif, received Mr. Jacques de Lajugie the councilor of the Ministry of Economic Affairs and Chairman of the Economic Department of the Middle East, accompanied by the Economic Attache at the French Embassy, Mr. Dominique Klan. Mr. Tarif reviewed the latest developments in the ASE and the ways of strengthening cooperation in the field of financial markets. Note that the electronic trading system used in the ASE since its inception has come to implement the agreement signed between the Amman Stock Exchange and the Paris Stock Exchange at the end of 1996. The electronic trading system has been applied in the ASE in 2000; also the system was updated to the latest systems used worldwide in early 2009.

The ASE receives a delegation from European Bank For Reconstruction and Development

The CEO of the ASE Mr. Jalil Tarif in the presence of Mr. Nader Azar the deputy CEO received a delegation from European Bank For Reconstruction and Development during a visit to The Hashemite Kingdom of Jordan to discuss the possibility to take the advantages of the Bank's activities in supporting development projects and strengthening the role of the private sector in the development process. Mr. Tarif presented the delegation about the recent developments witnessed by Jordan Capital Market in recent years and the current challenges facing the securities industry and the role of capital market institutions in providing an attractive environment especially that the national economy's openness to the foreign investment.

It is worth mentioning that this visit was based on Jordan's interest in applying for the membership in the European Bank for Reconstruction, Development and utilization of funding and services, which is based on the bank's decision to expand the scope of its work in the region.

 

September

New Schedule of Trading Hours in the ASE
The Amman Stock Exchange (ASE) has decided to amend the schedule of trading hours for all traded securities as of October 2nd, 2011, the new schedule includes the beginning of the pre-opening phase at 10:00 AM instead of 09:30 AM.
The CEO of the ASE, Mr. Jalil Tarif, said that amending the schedule of trading hours comes to provide an additional time to; contact listed companies to disclose all required information and results of general assembly meetings, contact Jordan Capital Market Institutions and other relevant departments regarding procedures of the public shareholding companies and the ASE's members, and take all technical and operational procedures necessary for the initiation of the trading session
Mr. Tarif pointed that, according to the new schedule set forth in the attached table, the pre-opening phase begins at 10:00 AM, and the trading session ends at 13:00.

Trading Hours in the Amman Stock Exchange
As of October 2nd, 2011
Beginning of Day Inquiry 08:30 - 10:00
Pre-Opening 10:00 - ± 10:30
Opening ± 10:30
Continuous Trading ± 10:30 - 12:30
Pre-Closing 12:30 - ±12:40
Closing ± 12:40
Trading at Last ± 12:40 - 12:50
Block Trades 12:50 - 13:00
Post Session 13:00

ASE Participates in the Fifth Meeting of the "OIC Member States' Stock Exchanges Forum"
Amman Stock Exchange (ASE), represented by Mr. Nader Azar the Deputy CEO of the ASE, and Mr. Bassam abu Abbas the head of Listing and Operation Dept. participated in the Fifth Meeting of the " Organization of Islamic Cooperation(OIC) Member States' Stock Exchanges Forum" which was held in Istanbul- Turkey, during the period from 17-18 October 2011.
During the meeting they agree that Standards and Poors Company(S&P) will continue its work on the composition and calculation two Islamic indices, one index includes companies from all exchanges members of the Organization of Islamic cooperation and the other one is Islamic investment index which re-evaluate group of companies listed on the member's exchanges in the Organization so as to test these companies in accordance with international standards in (S&P). S&P will work on marketing this index note that the index will be launched at the beginning of 2012. The meeting also discussed the possibility of developing Sukuk Islamic Market and launching Islamic financial instruments. They also tackled the issue of cooperation with data Provider Company regarding the trading of islamic financial instrument.

It should be noted that Twenty Three (23) capital markets and eight (8) depository centers of the "OIC" participated in the conference. The Organization is the second largest inter-governmental organization after the United Nations which has membership of 57 states spread over four continents and its premises is in Jeddah in the Saudi Arabia.

August

 

ASE Received Students Delegations

Amman Stock Exchange (ASE) received a student delegation from Finance and Banking Department at the University of Mutah. Mr. Amjad Al-Qudah, the Head of Awareness and Public Relations Department briefed them on the latest legislative and technical developments of the Jordan Capital Market and the basic investment principles at the ASE.

 

 

July

The Third  Corporate Governance and responsibility (CGR) Forum

Amman Stock Exchange represented by the CEO of the ASE Mr. Jalil Tarif participated in the Third Corporate Governance (CG) and Corporate Social Responsibility (CSR) Forum which was held by "Schema" during the period between 12-14 July 2011.

Mr. Tarif participated in a panel discussion on corporate governance in Jordan, revealed the importance of good corporate governance for listed companies, and displayed the most important lessons learned from the first CG code adoption in Jordan.

The CGR Forum 2011 provided business leaders with a unique opportunity to understand the link between CG, CSR and sustainability and how to implement CG and CSR together in order to become an invaluable cornerstone in helping their organization achieve sustainable growth. The forum attracted leaders from private and public sectors, NGOs and global CGR experts from Middle East and North Africa

 

Delegation from Muscat Securities Market Visits the ASE

Amman Stock Exchange (ASE) received a delegation from Muscat Securities Market(MSM) during the period between 29/5-2/6 2011, where the delegation was briefed on the mechanisms and rules of trading  and surveillance at the ASE through visiting Surveillance and Inspection department and Listing and Operations department. The delegation also visited Jordan Securities Commission (JSC), Securities Depository Center (SDC) and the Investor's Gallery in the Housing Bank Complex and toured a number of brokerage firms. This visit comes within the framework of cooperation between Amman Stock Exchange and Muscat Securities Market (MSM) which aims at exchanging experiences.

 

June

Participation in the Euromoney Jordan conference

The Chief Executive Officer (CEO) of the Amman Stock Exchange (ASE) Mr. Jalil Tarif participated in a conference about strategic options for financing development in Jordan and how to take advantage of international capital to promote the diversity of funding which was organized by Euromoney and held in Amman during the period between 3-4 May, 2011. Mr. Tarif in a panel discussion entitled "Corporate Finance" said that the Initial Public Offering (IPOs) at the primary market have been affected in Jordan in recent years because of the global financial crisis and the loss of financial markets to its attractiveness. Mr. Tarif stressed that Jordanian companies mainly uses unsophisticated tools for raising capital such as stocks, bonds and bank loans to finance their activities are advised to use more advanced and sophisticated tools.
It's worth to mention that the conference was attended by more than 400 financier and investor and consultant from Jordan and abroad.

A Military Delegation from Visit the ASE
A Military Delegation from the Royal Jordanian National Defense College visited the Jordan capital market institutions. The CEO of the ASE, Mr. Jalil Tarif, briefed the delegation on the operations at the ASE and the basic investment principles in the exchange. He also tackled the latest legislative and technical developments of the Jordan capital market at the legislative, technical and quantitative levels and their impact on enhancing market transparency, liquidity and efficiency.

ASE Received Students Delegations
Amman Stock Exchange (ASE) received a student delegation from Department of Finance and Banking at the University of Mutah. Mr. Amjad Al-Qudah, the Head of Awareness and Public Relations Department briefed them on the latest legislative and technical developments of the Jordan Capital Market and the basic investment principles at the ASE.

 

May

The Companies' First Quarter Reports for the year 2011


The CEO of the ASE Mr. Jalil Tarif said that (91) companies representing (81%) of the overall companies listed at the First Market submitted their quarterly reports reviewed by their auditors within the time limit of receiving their quarterly reports ended on Thursday 28/4/2011.

By virtue of the ASE(15/B) Listing Directives all companies listed at the First Market must submit their reviewed quarterly reports during the first month that follows the said quarter. Such a step assures the First Market companies' transparency and disclosure in addition to abiding by other strict conditions relating to their financial position, profitability and shares liquidity.

Tarif added that the ASE circulates these reports to the brokerage firms, and post them on the ASE website (Arabic Version) www.exchange.jo in circulars and disclosures/quarterly reports window.
On the other hand Mr. Tarif said that a number of companies listed at the First Market did not submit their reviewed reports within the time limit, breaching the provision (15/B) of the Directives of Listing Securities on the ASE, these companies are:

Middle East Insurance, Arab German Insurance, Arab Real Estate Development, Investment House For Financial Services, Amwal Invest, Emar Investments and Real Estate Development, Middle East Pharma and Chemical Ind , and Medical Appliances, The Investors and Eastern Arab For Industrial and Real Estate Investment, Ready Mix Concrte and Construction Supplies, Jordan Petroleum refinery, Beit Al- mal Saving and Investment for Housing, United Arab Investors, Rum Aladdin Industries, Middle East Complex FOR Eng, Electronics and Heavy Industries, The Jordanian Pharmaceutical Manufacturing. Furthermore, The Arab Assurers submitted it's un-reviewed quarterly report within the time limit. Furthermore, Specialized Investment Compounds, Conterpro For Housing Projects, Century Investment Group, The Mediterranean and Gulf Insurance Company -Jordan P.L.C. and the Universal Modern Industries, submitted their reviewed quarterly reports after the time limit.

Delegation from Al Quds University Visits the ASE

The CEO of the ASE Mr. Jalil Tarif received a delegation Al Quds University in Palestine during a visit to Jordan Securities Commissions (JSC) and Securities Depositary Center (SDC). The Deputy CEO Mr. Nader Azar presented the delegation about the recent developments witnessed by Jordan Capital Market in recent years and the current challenges facing the securities industry and the role of capital market institutions in providing an attractive environment especially that the national economy's openness to the foreign investment. Mr. Azar also tackled the latest legislative and technical developments of the Jordan capital market at the legislative, technical and quantitative levels and their impact on enhancing market transparency, liquidity and efficiency. The delegation was briefed on the mechanisms, rules and surveillance of trading at the ASE in addition to identifying the Electronic Trading System used by the ASE.


Student‘s Delegations Visit the ASE

Amman Stock Exchange (ASE) received student's delegations from Tafila Technical University, Al-Isra' University, Al-asriyya Schools, and Amman Training Center , where she presented briefed the delegations on the latest legislative and technical developments of the Jordan capital market at the legislative and technical level. Also, and some the delegations visited the Investor's Gallery in the Housing Bank Complex and they toured a number of brokerage firms.

 

April

ASE  12th General Assembly  Meeting

On March 10th, 2011 the ASE held the Twelfth General Assembly meeting, which was chaired by H.E. Mr. Mohammad S. AL-Hourani, Chairman of the Board of Directors and with the presence of members of the Board, the CEO of the ASE, Mr.Jalil tarif and the Jordan Securities Commission's (JSC) representative. During the meeting, the Board of Directors reported on ASE's accomplishments and activities and they discussed future plans. Furthermore, the ASE auditor presented his audited report, and the financial statements of the fiscal year ending on December 31st, 2010 were endorsed.

 

ASE  receives  a Delegation from  Iranian Surveillance Commission

The Chief Executive Officer (CEO )of Amman Stock Exchange (ASE) Mr. Jalil Tarif received Dr. Ali Salehabadi the Chairman of the Iranian Surveillance Commission accompanied by  the Deputy Chairman for Parliamentary Affairs Dr. Sayed Hosseinihaghighat  & by the Chairman Advisor Dr. Bagher Taherianfar . Where Mr.Tarif discussed ways of fostering cooperation ties between the two exchanges in both countries. The delegation also was briefed on the recent development witnessed by Jordan Capital Market and the mechanisms and rules of trading at the ASE in addition to identifying the Electronic Trading System used by the ASE. 

The Deputy CEO of the ASE Mr. Nader Azar participated in the annual conference for  the Financial Information services Division (FISD) Emanating from the Software & Information Industry Association (SIIA) which was held in Madrid in the period between March 2-3, 2011. During the Conference dissemination Information  in the Middle East and North Africa were discussed.

Mr. Azar participated as a speaker in one of the  discussion sessions titled  "MENA: Update on the Landscape" Where it addressed the Middle East and North Africa Stock Exchanges role  towards the development of the information dissemination industry to cope with the global policies pursued in this regard, , as well as the most important challenges and the role  which the major data providers  played in the region.

On a booth Mr. Azar met representatives of the participating entities from the international companies specialized in the field of information dissemination and investment firms to present the ASE as a model for the investment environment in the region by reviewing the benefits of the investment climate in Jordan as well as the most important achievements of the exchange in terms of the securities industry.

A number of participants expressed their interest in Amman Stock Exchange (ASE)   emphasizing to put it on their priority   in studying the investment opportunities n the region.

 

Student's Delegations Visit the ASE

Amman Stock Exchange (ASE) received student's delegations from Rayhana Bint Zeid School. Ms. Malak Al-Jazzazi from Awareness and Public Relations Dept. briefed the delegations on the latest legislative and technical developments of the Jordan capital market at the legislative and technical level. Also, the delegations visited the Investor's Gallery in the Housing Bank Complex and they toured a number of brokerage firms.

 

March 

 

Amman Stock Exchange received the chief economist from HSBC Bank

The CEO of the ASE, Mr. Jalil Tarif, received the chief economist Mr. Simon Williams from HSBC Bank, where Mr. Williams gave a lecture entitled "The World Financial Crisis and its Impact on Regional Stock Markets" in the presence of a number of financial brokers and representatives of the capital market institutions. At the end of the lecture Mr. Williams answered questions from the audience. 

 

ASE General Assembly 12th Meeting

On March 10th, 2011 the ASE held the Twelfth General Assembly meeting, which will be chaired by H.E. Mr. Mohammad S. AL-Hourani, Chairman of the Board of Directors and with the presence of members of the Board, the CEO of the ASE, Mr.Jalil tarif and the Jordan Securities Commission's (JSC) representative. During the meeting, the Board of Directors will report on ASE's accomplishments and activities and they will discuss future plans. Furthermore, the ASE auditor will present his audited report, and the financial statements of the fiscal year ending on December 31st, 2010 will be endorsed.

 

February

Academic day at Al-Isra' University

The Chief Executive Officer (CEO) of Amman Stock Exchange (ASE) Mr. Jalil Tarif met the Chairman of the Board of Al-Isra' University Eng. Maher Al- Galaeini and the University President Prof. Numan Al- Khateeb. Holding such meetings goes in line with the ASE's policy of strengthening its ties with the local community and spreading the investment culture and raising awareness among citizens and those who are interested in securities trading. Within this framework, the ASE, in cooperation with the Business Administration Faculty at Al-Isra' university, held an academic day to spread the investment culture and raise awareness among students.
Mr. Tarif delivered a lecture entitled "Recent Developments at the ASE and the Impact of the Financial Crisis" in the presence of the Dean of Business Administration Faculty Dr. Mahmoud Nour and a number of professors and students. Mr. Tarif concentrated on the technical and legislative developments at the ASE and the basic topics relevant to the Jordanian capital market and trading in securities. Moreover he discussed during the lecture the Global Financial Crisis and its effects on the global economy in general and the ASE in particular. Furthermore Mr.Bassam Abu Abbas, the Head of Listing and Operations Department at the ASE presented a live trading session and explained the most important features of the Electronic Trading System applicable at the ASE.
On this occasion the ASE held a booth, where a live trading session was displayed and all students' questions were answered. It is worth mentioning that this event witnessed a remarkable attendance from students and those who are interested in trading securities.

Delegation from Casablanca Stock Exchange Visits the ASE

Amman Stock Exchange received a delegation from Casablanca Stock Exchange during the period October 9-11, 2011, where the delegation was briefed on the mechanisms and rules of trading at the ASE in addition to identifying the Electronic Trading System used by the ASE. The delegation visited the Investor's Gallery in the Housing Bank Complex and toured a number of brokerage firms. This visit comes within the framework of cooperation between Amman Stock Exchange and Casablanca Stock Exchange which aims at exchanging experiences.