Alfred Akirov returns to investment in Bank Leumi

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Alfred Akirov is yet again a shareholder in Bank Leumi (TASE: LUMI), by means of Alrov Attributes and Lodgings (TASE: ALRPR(, which he controls with a 79% stake. Previous Wednesday evening, Alrov participated in a share giving by Lender Leumi, in which it elevated NIS 2.75 billion. Alrov invested NIS 100 million.

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For Alrov, this is a return to an financial investment that for years was a person of its largest investments in an Israeli corporation. In 2009, the company’s share portfolio was valued at NIS 920 million, mostly consisting of investments in Financial institution Leumi (NIS 800 million) and Lender Hapoalim (NIS 109 million). In 2019, Alrov held 4.9% of Lender Leumi, but by the stop of 2021 the keeping had shrunk to NIS 42 million, and it was liquidated entirely in the to start with quarter of this calendar year.

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In the previous two yrs, Alrov’s focus has been on Clal Insurance policies, in which it has a 15% stake, well worth NIS 733 million. Alrov has applied for a allow to control Clal Coverage, in get to increase its holding to 30%, but has not but attained it. It is way too early to say no matter if the investment in Financial institution Leumi signifies a choice to forego the endeavor to attain authorization to manage Clal Insurance policy, but it is certainly a substantial one, specially in the light of the sale of Alrov’s keeping just a few months back.

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Completely, Lender Leumi offered 91 million shares, representing 6% of its issued share funds. The featuring is meant to help the bank’s progress approach.

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Apart from the sum raised, the big story of the featuring was the invest in by Aaron Frenkel of shares to the tune of NIS 930 million, giving him a 2.1% stake in Bank Leumi.

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Printed by Globes, Israel organization news – en.globes.co.il – on June 26, 2022.

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

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