Alfred Akirov  credit: Ben Yuster

Alfred Akirov returns to investment in Bank Leumi

&#13

Alfred Akirov is once again a shareholder in Bank Leumi (TASE: LUMI), by means of Alrov Attributes and Lodgings (TASE: ALRPR(, which he controls with a 79% stake. Very last Wednesday night, Alrov participated in a share giving by Financial institution Leumi, in which it lifted NIS 2.75 billion. Alrov invested NIS 100 million.

&#13

For Alrov, this is a return to an expense that for years was one of its most significant investments in an Israeli corporation. In 2009, the company’s share portfolio was valued at NIS 920 million, generally consisting of investments in Lender Leumi (NIS 800 million) and Lender Hapoalim (NIS 109 million). In 2019, Alrov held 4.9% of Financial institution Leumi, but by the conclude of 2021 the holding had shrunk to NIS 42 million, and it was liquidated altogether in the initially quarter of this 12 months.

&#13
&#13
&#13
&#13

&#13
&#13
&#13
&#13

In the previous two a long time, Alrov’s concentrate has been on Clal Insurance, in which it has a 15% stake, worth NIS 733 million. Alrov has used for a permit to management Clal Insurance coverage, in get to raise its holding to 30%, but has not but received it. It is also early to say whether the expenditure in Lender Leumi represents a decision to forego the attempt to acquire authorization to command Clal Insurance, but it is unquestionably a considerable a single, in particular in the mild of the sale of Alrov’s keeping just a several months in the past.

&#13

Completely, Bank Leumi presented 91 million shares, symbolizing 6% of its issued share cash. The providing is supposed to guidance the bank’s development system.

&#13

Apart from the volume raised, the big tale of the supplying was the order by Aaron Frenkel of shares to the tune of NIS 930 million, supplying him a 2.1% stake in Lender Leumi.

&#13

Posted by Globes, Israel business enterprise information – en.globes.co.il – on June 26, 2022.

&#13

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

&#13

&#13
&#13