Max Stock Stake Increases Due to Migdal Insurance
IBID Bank Stake Sale : Max Stock Limited For 6.43% Insurance
Israel’s CAESAREA Israel-based extreme value retailer Max Stock Limited (TASE: MAXO) revealed on Monday that Migdal Insurance and Financial Holdings Ltd. has raised its ownership position in the business.
Migdal bought 3,559,039 shares on the Tel Aviv Stock Exchange on January 11, 2024, at an average price of ILS 7.08 per share.
After this transaction, Migdal owns 8,964,273 shares of Max Stock in total, which accounts for 6.43% of the company’s share capital (or 6.37% when fully diluted).
With this acquisition, Migdal will have a larger stake in the company, and its assets will be managed by mutual fund managers and profit-sharing life insurance policies.
Notably, Migdal Insurance and Financial Holdings Ltd. is a public company.
ultimately under the indirect control of Ms. Haya Eliyahu and Mr. Shlomo, who own a 64.28% share. Today, the company owns over 5% of Max Stock’s share capital, mostly from mutual funds and life insurance policies that it manages.
Stake Meaning
With 63 locations throughout Israel and two in Portugal, Max Stock is acknowledged as the top extreme value retailer in Israel. The business is renowned for providing a wide selection of high-quality goods at reasonable costs, which is consistent with their tagline, “Dream Big, Pay Small.”
This announcement is an English translation of selected articles from the same-day, Hebrew immediate report. Despite careful preparation, it is acknowledged that no translation can accurately capture the spirit of the original Hebrew text. In the event that
In case of any differences, the Hebrew version takes precedence. The information presented here is taken from a press release.
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