Aviation and tourism group Israir Group (formerly BGI Investments) has held a successful offering on the Tel Aviv Stock Trade. In the community tender that took position yesterday, the business elevated NIS 25 million at a pre-funds valuation of NIS 220 million.

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

Israir Team is the guardian organization of Israir Airways and Tourism. In January 2021, BGI Investments acquired control of Israir Airlines and Tourism in an auction by the trustee of IDB Enhancement.

In that offer, BGI Investments and Rami Levy purchased 75% of the shares in Israir for NIS 121.5 million, at a organization valuation of NIS 162 million. After Israir relinquished a $5 million debt, which gave the deal a business valuation of NIS 179 million, Israir shares held by Rami Levy and the IDB trustee were being transformed into shares in BGI Investments, which was renamed as Israir Group.

The most significant shareholders in Israir Group in advance of the present presenting had been Shay Odem, a business owned by Rami Levy and Shalom Haim (42.42%), Rami Levy (24%), and the IDB Growth trustee (25%).

After completion of the presenting, Israir Team will authorize a even more 5.415 million shares arising from the workout of selections: 1.665 million possibilities issued in the earlier by BGI Investments to 3 of its senior supervisors, and a even more 3.75 million possibilities promised to Israir professionals after the completion of its acquisition that have not still really been distributed.

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

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