The Ashstrom Group raises NIS 600m
Ashtrom Group, a prominent Israeli real estate company, has successfully raised NIS 600 million through a public offering of shares, attracting demand of approximately NIS 750 million.
Institutional investors, including Clal Insurance and Harel, participated prominently, with controlling shareholders—the Nussbaum and Giron families via Yundco—investing NIS 100 million. This participation will dilute their holdings from 57% to just under 54%.
The offering reflects strong institutional confidence in Ashtrom despite recent challenges, including the war’s impact on the construction sector.
Firon Law Firm represented Ashtrom in this transaction, with legal counsel provided by Vice Chairman Udi Efron, Adv. Moshe Leshem, and Adv. Yuval Kleinfeld-Yehezkel.
