Israeli airline and tourism company Israir Group has revealed a prospectus to raise NIS 25 million on the Tel Aviv Inventory Exchange (TASE) at a corporation valuation of NIS 220 million, NIS 240 million soon after dollars.

The presenting is scheduled to take place before the conclude of this month. Israir designs presenting 22,523,000 shares to the general public at NIS 1.11 per share, symbolizing a 9.26% stake in the enterprise.




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Rami Levy’s BGI Investments (TASE: BGI) acquired command of Israir in January 2021, adhering to a tender method executed by the receiver for IDB Enhancement. At the end of the process BGI purchased a 75% stake in Israir for NIS 121.5 million, at a enterprise valuation of NIS 162 million.

Immediately after Israir relinquished a $5 million personal debt, which gave the deal a organization valuation of NIS 179 million, Israir shares held by Rami Levy, BGI and the IDB trustee had been converted into a firm renamed as Israir Team.

Presently the biggest shareholders in Israir Group are Shay Odem, a organization owned by Rami Levy and Shalom Haim, which has a 38.9% stake, Rami Levy (21.55%) and the IDB Improvement trustee nevertheless retains a 22.45% stake.

After the IPO is finished, Israir Team will difficulty a more 5,415,000 shares will be issued which will serve as alternatives, such as 1,665,000 shares issued in the past by BGI for three of its senior executives, and 3,750,000 selections promised to senior Israir executives immediately after completion of the acquisition but not nonetheless dispersed.

Published by Globes, Israel business news – en.globes.co.il – on June 12, 2022.

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