Market Closed Date 19/06/2018
2018

April

Financial Statements of the First Quarter 2018 for Companies Listed at the ASE

 (99%) of 194 listed companies, have provided the ASE with their quarterly reports for the period ended 31/3/2018 during the specified period in the Directives for Listing Securities, This high percentage reflects the high compliance of the listed companies with the laws and regulations in force, and the high commitment of such companies to the principles of transparency and disclosure.

All companies listed at the ASE should submit the ASE with their interim reports reviewed by their auditors within one month after the end of the said period, according to the Directives for Listing Securities at the Amman Stock Exchange for the year 2016.

The ASE has also circulated all the reports to the brokerage firms, and posts them on the ASE website www.exchange.jo in circulars and disclosures/ quarterly reports window.

Only two companies namely; JORDAN PRESS FOUNDATION/AL-RA'I (PRES) and JORDAN PROJECTS FOR TOURISM DEVELOPMENT Company (JPTD) did not provide the ASE with their reviewed interim financial statements for the period ended on 31/3/2018 during the specified period. Accordingly, the ASE suspended (PRES) of trading as of Wednesday 2/5/2018, As well; the ASE continued suspending the shares of (JPTD) which is already suspended for not providing the ASE with its audited annual financial statements of 2017. The companies will remain suspended until providing the ASE with the required financial statements.

Student Delegations Visit ASE

The Amman Stock Exchange (ASE) received students' delegation from : Amman Arab University/ Faculty of Law، Private Law Department, The Hashemite University/ Faculty of Economics And Admiration, and the University of Jordan/   Faculty of Sharia ,Islamic Finance and Banking Department, Awareness and Public Relations Department,  presented a briefed the delegations on the latest legislative and technical developments of the Jordan capital market as well as its future projects during the coming years. Also Operations and Dissemination of Information Division at Listing and Operations Department presented a live trading session and an explanation on the main features of the applied electronic trading system at the ASE.

 

March

Financial Statements of the Annual 2017 for Companies Listed at the ASE

(98.9%) of 194 listed companies، have provided the ASE with their annual reports for the period ended 31/12/2017 during the specified period in the Directives for Listing Securities، This high percentage reflects the high compliance of the listed companies with the laws and regulations in force، and the high commitment of such companies to the principles of transparency and disclosure.

All companies listed at the ASE should submit the ASE with their annual reports audited by their auditors within three months after the end of the said period، according to the Directives for Listing Securities at the Amman Stock Exchange for the year 2016.

The ASE circulates these reports to the brokerage firms، and post them on the ASE website www.exchange.jo in circulars and disclosures/ annual reports window.

In addition to only two companies namely; PHILADELPHIA INSURANCE COMPANY (PHIN) and JORDAN PROJECTS FOR TOURISM DEVELOPMENT Company (JPTD) did not provide the ASE with their audited annual financial statements for the period ended on 31/12/2017 during the specified period. Knowing that the (PHIN) company has provided the ASE with it's unaudited financial statements  during  the specified period Accordingly، the ASE suspended (JPTD) and (PHIN)  of trading as of Sunday 1/4/2018. The companies will remain suspended until providing the ASE with the required financial statements. 

Ringing Bell for Gender Equality Stock Exchange Conference

The Amman Stock Exchange(ASE)، hosted the fourth Annual Celebration of the Gender Equality Initiative in Jordan "2018 Ringing Bell for Gender Equality Initiative" which was organized by the ASE in cooperation with the International Finance Corporation (IFC)، throughout ringing the bell for starting the trading session at the ASE coincide with the  celebration of Women's International Day in the presence of H.E. Dr. Jawad Al-Anani ASE chairman of the board، the CEO of the ASE Mr. Nader Azar،  Ms. Dalia Wahba، IFC Country Manager - World Bank Group، Mr. Ziad Sheikh، UN Women Representative to Jordan and a number of Business Women and the public figures interested in SSE Principles  and Gender equality ، and representatives of  brokerage firms ، Public Shareholding Companies and capital market institutions.

Dr. Al- Anani in his opening remark declared that more than 58 stock exchanges rang the bell this year hosting on the occasion of International Women's Day، this celebration comes in the belief of raising awareness in gender equality in sustainable development and economic activity. This Initiative also aims at raising awareness of the importance of promoting gender equality in the private sector as well as encouraging business leaders around the world to make serious steps to empower women in the work place and society.

Also stressed on the ASE interest in empowering women in carrying a leading duties in the Jordanian capital market، where the ASE believes of the important role of women in promoting economic activity and participation in labor market and in its ability to development and creativity.

"Gender equality is clearly important at the social level، helping to address poverty and human rights for all. And Companies cannot continue to ignore the talents of half of the population if they want to achieve growth and prosperity" said Ms. Dalia Wehba، IFC country manager for Lebanon، Jordan، Syria and Iraq

"Study after study shows the positive impact women have on workplaces - they give companies a larger talent pool to recruit from، this diversity brings creativity، creativity brings clients، clients bring profits، and profits bring prosperity." Mr. Ziad Sheikh، UN Women Jordan Representative.

On the sidelines of the celebration، two discussion sessions were held on the role of women in supporting the economy and the determinants of women's participation and the importance of enabling them to participate actively in economic activities.

The first session entitled "What Does Gender Inequality Cost Us Economically?" was attended by H.E H.E. Mrs. Suhair Al- Ali، Executive Chairman of Social Security Investment Fund، H.E. Mrs. Nadia Al Saeed، General Manager and CEO، Bank al EtihadH.E. Mrs. Taghreed Hikmat، Jordanian Senatorm H.E. Mrs. Haifa Alnajjar، Jordanian Senator and Dr. Thogan Obadiah and the session was moderated by Dr. Jawad Al Anani، Chairman of the ASE.

The second panel discussion was about "The Impact Of Sustainability Diversity On Companies Performance" was attended by Mr. Yahya Al Husseini، Corporate Governance Officer IFC Member of the World Bank Group and Dr. Samer Al-Mifleh، Director of Strategic Planning and Institutional Performance Development at the General Organization for Social Security، Mr. Tareq Al Haj Hassan، Senior Vice President - Program Manager، Arab Bank، and Expert Farat Jabr from Sustenblity Excellence. The second session was moderated by Mr. Nader Azar، CEO of the ASE.

It is worth mentioning، that this initiative is an important international event adopted by a group of global parties in the field of financial markets، namely:

UN Global Compact، UN women، Sustainable Stock Exchanges Initiative، World Federation of Exchanges، Women in ETFs، and it is launch in various countries around the world to celebrate International Women's Day.

The ASE Index Quarterly Review

the Amman Stock Exchange (ASE) has conducted the periodic quarterly review of the ASE index constituents in purpose of ensuring that the ASE General Price Index reflects the market performance and the trading activity of the listed companies. By this rebalancing، the activity of listed companies in regard to trading during the last quarter has been reviewed. After that، the ASE has conducted its screening process for all listed companies using the full market capitalization of the companies and the number of trading days during last quarter. It is worth mentioning that the criteria adopted by the ASE are similar to the criteria applied by many leading international index providers.

as a result of this review، (10) companies have been excluded from the index sample and other (10) companies have been added. The companies that have been excluded from the index sample were: Middle East Insurance، Jordan Decapolis Properties، Al- Sharq Investments Projects (Holding)، United Financial Investments، Alia- The Royal Jordanian Airlines Plc، Arab Phoenix Holdings، Sura Development & Investment Plc، National Cable & Wire Manufacturing، National Chlorine Industries، and The Jordanian Pharmaceutical Manufacturing.

The companies that have been added to the index sample were: Jordan Insurance، Al-Bilad Medical Services، Jordan Trade Fac، Arab Financial Investment، Ittihad Schools، Petra Education Company، Methaq Real Estate Investment، Afaq Holding For Investment & Real Estate Development Co. P.L.C، Shira Real Estate Development & Investments، Ibn Alhaytham Hospital Company.

As part of the process، the ASE calculated the free float for all listed companies at the ASE based on the data Received from the Securities Depository Center. This review also includes the reduction of the weights for some companies to maintain the 10% cap that applied to index constitutes.

the index sample includes (100) companies which are the most active in the ASE and the highest in terms of market capitalization. The full market capitalization of the index constituents represent (92.6%) of the total market capitalization of the companies listed at the ASE. The free float market capitalization of the index constitutes represents (95.3%) of the total free float market capitalization of the listed companies at the ASE.

In light of the above، the index constituents will be modified on the 1st of April 2018. Interested parties can access to the constituents of the index with the new weights through the following link:

https://www.exchange.jo/en/constituents

Student Delegations Visit ASE

The Amman Stock Exchange (ASE) received students' delegation from University of Jordan and AL ITTIHAD  School، Awareness and Public Relations Department، presented a briefed the delegations on the latest legislative and technical developments of the Jordan capital market as well as its future projects during the coming years. Also Operations and Dissemination of Information Division at Listing and Operations Department presented a live trading session and an explanation on the main features of the applied electronic trading system at the ASE.

 

February

Issuance of the brochure "The Electronic Disclosure System using XBRL"

In light of  Jordan Capital Market Institutions keenness to apply the latest international practices in the financial markets. In this regard, the ASE started in cooperation with Jordan Securities Commission (JSC) in 2016 applying the Electronic Disclosure System project using XBRL language in Jordan Capital Market.

the project of "Electronic Disclosure System" in Jordan capital market is a vital and important project and serves all related parties, where this project will make a paradigm shift in the disclosure of financial and nonfinancial data of the companies and it will develop the process of accessing all disclosures, and thus will improve the disclosure and transparency level in the market and increase the speed of access to the required information. The system also provides information in both Arabic and English, note that this project is expected to be applied by the end of the year.

In addition  to, in order to increase the awareness of the listed companies and all other related parties of the ''Electronic Disclosure System'' and its importance, the ASE has issued - in cooperation with Jordan Securities Commission (JSC) - a brochure on ''Electronic Disclosure Using XBRL Language '', where this brochure contains the most important information related to the electronic disclosure such as: the importance of the electronic disclosure system, the benefits of XBRL language like reliability, flexibility and efficiency ... etc. Furthermore; the brochure displays the most important data which will be disclosed through XBRL, and the mechanism of operation of the system.

It's worth mentioning that those who are interested in "The Electronic Disclosure System using XBRL" can view/find it on the ASE website within the library and publications section. 

 

January

H.E Dr. Anani Meets Representatives of Brokerage Firms

The Chairman of the Board of Directors H.E Dr. Jawad Al Anani، in the presence of the Executive Management of the ASE met representatives of brokerage firms to discuss issues related to securities sector and the ways to activate the market.

At the beginning of the meeting،  Dr .Anani welcomed and thanked them for attending the meeting. He also explained that this meeting is part of a series of meetings held by ASE. Where the ASE started its meeting with the Jordan Strategies Forum to discuss the recommendations of the study ( ASE:  The way forward)  followed by a meeting in TAG group and a meeting in the Association of Banks to encourage banks to increase their investments in ASE and to be the market leadership،  as well as individual meetings with a number of institutional investors.

Dr. Anani stressed on the collaboration of all parties to activate the market add to that the brokerage firms responsibility in attracting local and global investors and invest to the stock market alongside with the Capital Market Institutions and other related parties through promoting  the profession of brokerage firms  and research and studies on listed companies to facilitate investors in making their investment decisions.

As the attendees agreed on the need of increasing the available tools and investment alternatives to investors such as mutual funds، Islamic Sukuks and ETFs

The attendees also asked for amending the tax law by introducing broad amendments in order give investors incentives for dealing with and attracting foreign investments on the other hand، and to reduce or eliminate taxes on capital gains by treating investment companies the same treats of individuals in capital gains.

 

ASE participates in the Disclosure، Transparency ،Environmental، Social and Governance (ESG) Integration in Emerging Markets Initiatives.

Amman Stock Exchange represented by the CEO، Mr. Nader Azar participated in the roundtable discussion on Disclosure and Transparency and the Environmental، Social and Governance (ESG) Integration in Emerging Markets which was organized in collaboration with the UN Sustainable Stock Exchanges Initiative and hosted by the London Stock Exchange Group on January 24، 2018.

Important issues were discussed during the meeting related to enhancing sustainability in the financial sector and the development of the strategies to identify the importance of implementation the best practices of sustainability، as well as involving all actors such as institutional investors، individuals، financial services companies and financial market regulators to urge listed companies in sustainability principles.

Mr. Azar presented the positive results of adopting the principles of sustainability in the financial markets، also discussed the pioneering steps of the ASE in this field، such as the issuing  of two publications on sustainability and organizing the third year in row the annual celebration of the Jordan's Gender Equality Initiative in collaboration with the International Finance Corporation (IFC)، following with  signing  an agreement with a leading company to enhance the commitment to sustainability in listed companies، in addition to the ASE  intent to prepare a guide for sustainability in the coming period، up to the ASE first issuance of sustainability report in 2020.

It is worth mentioning that this event has witnessed more than (60) attendees representing a number of decision makers in the government، and CEOs of many leading financial institutions capital markets. ASE has joined this important initiative launched by the Secretary-General of the United Nations in March 2016. Constituting of 68 members worldwide to increase the transparency and commitment of listed companies to Social and environmental responsibility and corporate governance issues.

 

.Signing an agreement with Vardot Company to Develop the ASE Website

Amman Stock Exchange (ASE) and Vardot company for Digital Business Solutions have signed an agreement to redesign and update the ASE website both in Arabic and English. On behalf of the ASE،the agreement was signed by Mr. Nader Azar the CEO of the ASE، and on behalf of Vardot،Mr. Mohammed Razem the CEO of Vardot

 Mr. Azar said that the new design and update for the ASE website comes in line with the ASE strategic plan for the years 2018-2020، to develop the technical environment،enhance the investment environment by making the ASE website more attractive user friendly for investors and researchers

Mr. Al-Razzim expressed his gratitude for the selection of Vardot to update and design the new website، and ASE belief in Vardot capabilities to promote a long-term partnership between the two companies. Where Vardot proved its global capacity as one of the top 10 companies in the world in providing portal solutions، websites، content management systems and digital interaction using the Open Source Drupal platform