Israir Group raises NIS 25m in TASE IPO
Aviation and tourism group Israir Team (formerly BGI Investments) has held a thriving supplying on the Tel Aviv Stock Trade. In the community tender that took position yesterday, the enterprise lifted NIS 25 million at a pre-dollars valuation of NIS 220 million.

Israir Team will concern 22.523 million shares at NIS 1.11 for every share, symbolizing 10.2% of its share funds.

Israir Group is the guardian firm of Israir Airlines and Tourism. In January 2021, BGI Investments acquired handle of Israir Airlines and Tourism in an auction by the trustee of IDB Development.

In that deal, 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. Following Israir relinquished a $5 million debt, which gave the offer a firm valuation of NIS 179 million, Israir shares held by Rami Levy and the IDB trustee had been transformed into shares in BGI Investments, which was renamed as Israir Team.

The premier shareholders in Israir Team in advance of the present-day supplying have been Shay Odem, a organization owned by Rami Levy and Shalom Haim (42.42%), Rami Levy (24%), and the IDB Advancement trustee (25%).

Right after completion of the offering, Israir Team will authorize a more 5.415 million shares arising from the exercising of options: 1.665 million selections issued in the past by BGI Investments to three of its senior professionals, and a more 3.75 million options promised to Israir professionals soon after the completion of its acquisition that have not nevertheless really been distributed.

Released by Globes, Israel small business news – en.globes.co.il – on June 21, 2022.

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