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Australia Post divest Aramex stake in AED 602.6 million deal

2019-03-14 11:15:30 GMT (Economies.com)
 

Australia Post Transaction Services sold its 10% holding in Dubai-based Aramex for AED 602.6 million ($164 million), through an over-the-counter transaction on 147.34 million shares, according to a filing. 

 

Meanwhile, Aramex stock rose by 9.13% yesterday to reach AED 4.38; its highest level since January 2017.

 

Aramex said earlier full-year net profit increased 13 % to AED493 million, from the previous year as revenues increased about 8 % to AED5 billion.

 

In December, Aramex sold its stake in a joint venture with Australia Post, incurring a one-off impairment of AED46m.

 
 
 
  Symbol Last Change Chg.%
1.1606
0.0036
0.3139%
1.3751
0.0123
0.9053%
Tadawul
11773.36
25.09
0.21%
23.335
0.700
3.090%
82.022
0.902
1.112%
84.86
0.86
1.02%
1767.855
13.150
0.749%
 
 
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