El Al Israel Airways Ltd. (TASE:ELAL) controlling shareholder Kenny Rozenberg has efficiently accomplished a suggestion to buy, growing his stake from 44.95% to 49.95%. The supply to buy was accomplished on the third try at NIS 4.20 per share.
Amongst these promoting shares have been the state, which decreased its holding from 11.80% to 10.13% and former controlling shareholders the Borowitz household, which decreased its stake by Knafaim Holdings from 6.19% to five.24%.
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Rozenberg grew to become El Al’s controlling shareholder in 2020 after investing NIS 360 million as a part of a TASE providing performed to save lots of the airline from collapsing in the course of the Covid pandemic. Subsequently Rozenberg injected an extra NIS 166 million into El Al for extra shares and prolonged the $70 million proprietor’s mortgage.
To this point, Rozenberg has misplaced lots of of tens of millions of shekels on the funding. However he’s banking on the present reserving increase within the tourism trade persevering with with El Al reporting its greatest quarterly revenue since 2015 within the fourth quarter of 2022.
Printed by Globes, Israel enterprise information – en.globes.co.il – on April 20, 2023.
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