Israeli airline El Al has raised NIS 510 million through share and warrant offering
Following an auction of the shares at the end of March, Israeli airline has raised NIS 510 million after issuing shares together with a new series of publicly traded warrants.
This equity raised will be used, among other objectives, to fund the expansion of the company’s aircraft fleet to significantly increase its operational scope and flexibility.
In this issuance, El Al raised NIS 510 million, and the exercise of the tradable warrants is expected to generate an additional NIS 520 million. Furthermore, excess demand in the public tender led to an additional NIS 32 million being raised at the end of the public offering process.
Shibolet advised the airline, with the issuance led by partners Adi Zaltzman and Saul Adereth, along with Eden Bezerano.
