Aviation and tourism team Israir Group (previously BGI Investments) has held a profitable presenting on the Tel Aviv Inventory Trade. In the public tender that took put yesterday, the corporation raised NIS 25 million at a pre-funds valuation of NIS 220 million.

Israir Group will issue 22.523 million shares at NIS 1.11 for each share, representing 10.2% of its share cash.

Israir Team is the guardian organization of Israir Airlines and Tourism. In January 2021, BGI Investments obtained manage of Israir Airways and Tourism in an auction by the trustee of IDB Enhancement.

In that offer, BGI Investments and Rami Levy acquired 75% of the shares in Israir for NIS 121.5 million, at a firm valuation of NIS 162 million. Just after Israir relinquished a $5 million personal debt, which gave the deal a firm valuation of NIS 179 million, Israir shares held by Rami Levy and the IDB trustee were transformed into shares in BGI Investments, which was renamed as Israir Group.

The greatest shareholders in Israir Team ahead of the existing offering had been Shay Odem, a organization owned by Rami Levy and Shalom Haim (42.42%), Rami Levy (24%), and the IDB Enhancement trustee (25%).

Following completion of the offering, Israir Team will authorize a additional 5.415 million shares arising from the work out of solutions: 1.665 million solutions issued in the earlier by BGI Investments to a few of its senior supervisors, and a even further 3.75 million choices promised to Israir supervisors soon after the completion of its acquisition that have not but actually been distributed.

Published by Globes, Israel organization information – en.globes.co.il – on June 21, 2022.

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