National Student Association sold 16% of the shares of "Issta" for NIS 202 million

National Student Association sold 16% of the shares of the travel and real estate company "Issta" for NIS 202 million, leaving students with holdings worth only 5.3%. Of 24% of the market price of the stock, a move attributed to the fact that there is a wide range of stocks given that made it difficult to sell in the current period. The move was approved by the general meeting of the student union, Zick and Moran Goldberg from the Schneider & Co. office.
After the sale, the Issta share was traded at a price of NIS 90 per share, reflecting a decrease of about 12%. The company, whose market value as of this writing is about NIS 1,608,374 thousand, closed the first quarter of the year with revenues of NIS 45 million, and a net profit of NIS 12.3 million.
Until the current deal, the student union has been one of the main holdings in Ista, since the company's first IPO in the 1990s. This is the first time in more than a decade that the association has sold Issta shares, when the controlling shareholder Achishi Gal, who chose not to take part in the current deal, bought 8% of the shares from the Student Union in 2010, since the shares grew significantly.
"This is a significant step for the benefit of the male and female students in Israel that will allow us to promote new projects, both academically and socially," the association's chairman Elhanan Fleheimer told the media.
"The sale of Issta's shares will allow the association to invest the funds in new channels and arrange its investments more efficiently, in order to promote processes and projects for the benefit of the association, student associations in all academic institutions, and male and female students in Israel for years to come."