Shufersal announces that on March 3-4, 2021, the company carried out a global IPO process for Israeli and foreign investors. The issuance process was carried out in a combined manner, by way of a non-uniform offer, in which demand was received from investors in both markets.
As part of the offering, very high demand was received in the amount of approximately NIS 1.5 billion.
As far as Israeli investors are concerned, the entire Israeli institutional market participated in the IPO and particularly high demand was received, almost double the volume of the planned IPO.
The issuance method of a non-uniform offer in a non-initial public offering (IPO) is a relatively innovative method in the Israeli market and it allowed the company to decide how to make the allotment, in a way that allows foreign investors to participate in the offering and join Shufersal as shareholders.
The total raising volume is NIS 702m and the issue price is NIS 26 per share (which is a discount of approximately 3.3% against the closing price of the share on 4.3.21).
The Israeli underwriter in the offering was Epsilon (when the international distributor was Citigroup). Shufersal was represented in the IPO by Adv. Doron Segal of Goldfarb Seligman & Co.
Yaki and Damani, Chairman of Shufersal and Itzik Aberkhan, CEO of Shufersal, They said today:
“We are happy and proud of the great success in the share issue, which expresses the confidence of the investing public in Israel and abroad, in Shufersal and in our strategic path. In recent years in general, and in 2020 in particular, we have proven that the infrastructure we have laid over the years as part of our work plans, has adapted to the changing needs of the clientele and enabled us to continue to lead the company to growth and success.
The current issue, which was carried out in an innovative manner through a non-uniform offer to Israeli and foreign investors, also allowed us to diversify the structure of the company’s shareholders and allow foreign investors to be part of Shufersal’s shareholders. In exchange for the IPO, it will enable Shufersal to continue its work plans for growth and leadership, while making investments that will enable the advancement of our various areas of activity. “