Aramex founder, vice chairman, Fadi Ghandour, sold his entire 9.9% stake to investors including Mohamed Alabbar (through Alabbar Enterprises, a family company) at a price above market, sources familiar with the deal told Bloomberg yesterday. Aramex share price rallied 6% yesterday and its traded value reached USD9.4mn, affected by the news and a likely increase in shares available to ex-GCC investors post the transaction. A main overhang on the stock was that its foreign ownership (ex-GCC) has been at its maximum permitted limit (49%) for some time. Management was not available to comment on the news and the impact of ownership change on Aramex’s management and strategies. (Bloomberg, Wafaa Baddour)   Aramex: AED3.81 as of 26 July 2016, Rating: Buy, FV: AED4.20 per share, MCap: USD1,520mn, ARMX UH / ARMX.DU