Dubai: Dubai-listed logistics firm Aramex confirmed on Tuesday that Australia Post has bought a 4.5 per cent stake in the company.
This comes after Australian media reported last Wednesday that the Australian postal services provider purchased a stake in the company for around A$100 million (Dh282.2 million).
“We would like to confirm what was published in the news. The details were based on an official statement made by Australia Post’s authorised spokesperson confirming to the media that Australia Post had bought a 4.5 per cent stake in Aramex,” Bashar Obeid, chief financial officer at Aramex, said in a statement to the Dubai Financial Market (DFM).
This is the latest purchase of Aramex shares in recent weeks. Last week, Fadi Ghandour, the founder of Aramex, sold all of his holdings in Levant Logistics Holdings, which owns 144.9 million shares in Aramex or 9.9 per cent of Aramex shares, to Boson Ventures Corporation, a firm in the Cayman Islands that provides seed funding. On July 28, Jaona Investment bought a stake in Aramex for Dh437.6 million.
Aramex posted a 24 per cent growth in net profit for the first half of this year to Dh222.5 million.
The company’s shares were down 1.25 per cent to Dh3.95 on Tuesday, according to the DFM website.
