Through a Purchase Deal worth JOD74 Million SSIF acquires the entire "Islamic Development Bank" shares at the APC SSIF shares at APC reached 8,643,000 shares (10.37 percent of APC total shares)

Through a purchase deal worth JOD 74 million, the Social Security Investment Fund (SSIF) increased its ownership of the Arab Potash Company (APC) by agreeing to acquire all of the Islamic Development Bank’s (Jeddah) shares at the said company. The agreement was signed on November 8,2016. Through the deal, SSIF will be raising  its ownership in APC to 10.37 percent, equivalent  to 8,643,000 shares. The deal will be executed at a share price of JD 17.35 per share.  

SSIF Executive Chairperson, Suhair Al-Ali said that this deal is a step towards the ongoing efforts by SSIF to identify viable investment opportunities that would play a role in preserving the actual value of the fund’s assets, improving revenues and diversifying risks. Moreover, the deal is in line with the fund’s investment policy and contributes to strengthening local investments in strategic national companies that support the national economy in an effort, also, to complement the government efforts to create job opportunities for Jordanians.

Al-Ali stressed that this acquisition deal has been studied carefully taking into consideration current market conditions, global potash prices, APC future expansion plans, as well as APC’s performance during the first half of 2016, and future projections.

A total of thirteen accredited brokers for SSIF at the Amman Stock Exchange will execute the deal on behalf of SSIF to give a fair chance for them to equitably benefit from this vital deal, Al-Ali added.

SSIF Chairman stressed on the importance of increasing the fund’s contribution to economic development, through entering into partnerships between the public and the private sectors to implement feasible national projects and to enable the needed financing. In addition to SSIF’s efforts to encouraging foreign investors to invest in Jordan through establishing strategic partnerships in viable projects, and diversifying investment tools.

Al-Ali further stated that the Social Security Investment Board has recently approved the establishment of a Financial Leasing Company (FLC) fully owned by SSIF. The Daman Financial Leasing Company was established as a new investment vehicle to undertake financing for viable and feasible national projects that meet local communities development objectives, contribute to the national efforts of creating job opportunities for Jordanians and stimulating economic growth, while achieving the desired return objectives for the fund.

Furthermore, introducing financial leasing to SSIF activities will contribute to realizing the goals of the fund, in terms of managing and growing the Social Security Corporation assets, which exceeded JOD (8) billion as of September, 2016.

SSIF is also a major player in the public equities market with a market share at the ASE by the end of September 2016 reaching JOD 1.78 billion, representing 10.6 percent of the ASE market capitalization.


The Arab Potash Company is considered an important national company in terms of its contribution to the domestic national economy and exports.