Israir Group raises NIS 25m in TASE IPO
Aviation and tourism team Israir Group (formerly BGI Investments) has held a thriving featuring on the Tel Aviv Stock Trade. In the general public tender that took put yesterday, the corporation lifted NIS 25 million at a pre-revenue valuation of NIS 220 million.

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

Israir Team is the parent enterprise of Israir Airlines and Tourism. In January 2021, BGI Investments obtained control of Israir Airways and Tourism in an auction by the trustee of IDB Advancement.

In that offer, BGI Investments and Rami Levy purchased 75% of the shares in Israir for NIS 121.5 million, at a enterprise valuation of NIS 162 million. After Israir relinquished a $5 million credit card debt, which gave the deal a corporation valuation of NIS 179 million, Israir shares held by Rami Levy and the IDB trustee ended up converted into shares in BGI Investments, which was renamed as Israir Team.

The premier shareholders in Israir Group just before the recent featuring were being Shay Odem, a corporation owned by Rami Levy and Shalom Haim (42.42%), Rami Levy (24%), and the IDB Enhancement trustee (25%).

Just after completion of the supplying, Israir Team will authorize a further 5.415 million shares arising from the training of selections: 1.665 million possibilities issued in the earlier by BGI Investments to a few of its senior managers, and a further more 3.75 million alternatives promised to Israir managers just after the completion of its acquisition that have not but basically been dispersed.

Printed by Globes, Israel company news – en.globes.co.il – on June 21, 2022.

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


