Tel Aviv Stock Exchange issues NIS 242m secondary offering
Categories: Capital Markets
The Tel Aviv Stock Exchange Ltd. has issued a secondary offering, netting NIS242 million of the total proceeds from the offering, which it intends to invest in its technology infrastructure.
Local and foreign investors purchased a 18.5% stake in the exchange. Billionaire hedge fund manager Bill Ackman, and his wife, Israeli-born designer and academic Prof. Neri Oxman, have acquired an almost 5% equity stake in the Tel Aviv bourse.
Latham & Watkins has advised Jefferies as sole global placement coordinator, with the transaction led by London partners
Joshua Kiernan and Ryan Benedict, with support from associates Gilad Zohari (Tel Aviv) and Fred Gardner (London).
Herzog advised Jeffries on the Israeli aspects – with the transaction led by Nir Dash, Co-Head of the Corporate and Capital Markets department, and partner Ron Ben-Menachem (Capital Markets), together with Dr. Ehab Farah (Tax) and Irit Roth (Banking).
Read more in the Times of Israel.
