Sherry Arison sold a portion of her shares in the bank to Klal Insurance totaling NIS 336 million
Posted on Jul 20, 2023 by Ifi Reporter
Bank Hapoalim reported that Sherry Arison had sold a portion of her shares in the bank to Klal Insurance at the lock-in price, totaling NIS 336 million.
As a consequence of this transaction, Arison's stake in the bank decreased to 4.88%, equivalent to NIS 2.18 billion, falling below the 5% threshold required to maintain an interest in the bank. Consequently, Arison will no longer be obligated to disclose any future sales of her shares.
This marks the fifth time that Arison has sold Poalim shares since 2018 when she decided to relinquish control of the bank. In September of the previous year, she had already sold shares amounting to NIS 300 million.
Following the announcement of the sale, the bank's stock experienced a 1% decline in the morning trading hours. Similarly, Clal Insurance shares also retreated, dropping by 1.4%.
As of now, Clal Insurance has not issued a public statement regarding the matter. Their purchase of Hapoalim shares is just one part of their recent acquisitions, which also includes shares of companies in various sectors, such as real estate (Housing and Construction Real Estate), energy (Meshek Energy), and aviation (El Al).
Articles Archive
Top Categories
ABOUT IFI TODAY
Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum