High demands of almost NIS 700 million were registered in Cellcom's bond issue

High demands of almost NIS 700 million were registered in Cellcom's bond issue. At the end of the day, the company "only" took NIS 400 million at an interest rate of 4.73%. Niel Sapir, CEO of Cellcom: "We are happy about the trust that the capital market has given us. In the recruitment, record demand was recorded at an excellent interest rate.
Cellcom is in an excellent period and the company managed to improve its financial performance. Last June, the DSK board of directors decided to begin examining the liquidation of the company's holding in Cellcom when last week the company announced that it had received a non-binding inductive offer to purchase its shares in the cellular company.
The offer received by Discount Investments to begin the process of selling the holdings in Cellcom is actually just the beginning of a process that is not certain to mature into anything. The offeror requested access to the company's information in order to begin a due diligence and the DSK board of directors decided to examine this.
It should also be noted that Cellcom is traded on the stock exchange at a value of just under NIS 3.5 billion. As of the end of the second quarter of this year, the company's equity stands at NIS 2 billion and its quarterly revenues amount to NIS 2.1 billion. It should be noted that the balance of the company's balance sheet stands at approximately NIS 6 billion, with equity accounting for NIS 2 billion of the balance sheet.
Since the beginning of the year, Cellcom has made an interesting move of increases that amounts to more than 20%, and this despite the situation in the markets at that time being not anything. In the past year, the company has doubled its value on the stock exchange and it seems that Tzachi Nahmias, who acquired control of DSKSH, is interested in taking advantage of the increases in the stock to realize the company.
One way or another Cellcom is well positioned in the Israeli mobile market as it stands on 3 legs: the high-speed fiber internet leg, the mobile leg and the multi-channel TV leg.