Aviation and tourism group Israir Team (previously BGI Investments) has held a successful supplying on the Tel Aviv Inventory Exchange. In the public tender that took place yesterday, the corporation raised NIS 25 million at a pre-money valuation of NIS 220 million.

Israir Group will difficulty 22.523 million shares at NIS 1.11 per share, symbolizing 10.2% of its share capital.

Israir Group is the parent enterprise of Israir Airlines and Tourism. In January 2021, BGI Investments obtained manage of Israir Airlines and Tourism in an auction by the trustee of IDB Progress.

In that deal, BGI Investments and Rami Levy bought 75% of the shares in Israir for NIS 121.5 million, at a corporation valuation of NIS 162 million. Just after Israir relinquished a $5 million credit card debt, which gave the offer a corporation valuation of NIS 179 million, Israir shares held by Rami Levy and the IDB trustee had been transformed into shares in BGI Investments, which was renamed as Israir Team.

The largest shareholders in Israir Team before the current providing ended up Shay Odem, a organization owned by Rami Levy and Shalom Haim (42.42%), Rami Levy (24%), and the IDB Development trustee (25%).

Right after completion of the featuring, Israir Group will authorize a even more 5.415 million shares arising from the workout of selections: 1.665 million choices issued in the earlier by BGI Investments to 3 of its senior professionals, and a additional 3.75 million possibilities promised to Israir supervisors right after the completion of its acquisition that have not nonetheless in fact been distributed.

Posted by Globes, Israel company information – en.globes.co.il – on June 21, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.


