Isrotel: Issuance of shares and warrants worth NIS 121 million – the capital market

by

Isrotel Hotel in Eilat, Photo: Getty images Israel

The hotel chain


Isrotel
-3.26%




Isrotel


Base:4,995

opening:4,832

Tall:4,835

low:4,831

change:36,630

Page Quote News Graphs Company Profile Recommendations


More articles on the subject:




Reports on the issuance of shares and warrants to institutional investors worth NIS 121 million, in exchange for the offering intended to finance the development plan. As part of the private placement, the company will allot 1.5 million ordinary shares and 1.5 million non-negotiable options. The consideration in the private placement reflects a share price of NIS 48.5 and the options that will be granted without consideration. Each warrant will be exercisable for one ordinary share of the company, against payment of an additional exercise in the amount of NIS 60. The realization period is 18 months.

Join regular updates on the significant events today on the stock exchange – on the BizPortal telegram channel

Despite the corona crisis and the damage to revenues throughout 2020, the company’s share has risen by about 25% in the last three months, with the yield standing at a minus of only about 5% since the beginning of the year. The company’s market value is NIS 2.8 billion and shareholders’ equity is estimated at NIS 1.4 billion.

The company suffered two particularly difficult quarters this year in the first half of the year, with a decrease in revenues that amounted to NIS 205 in the first quarter and NIS 80 million in the second quarter. The two quarters totaled losses of NIS 28 million and NIS 26 million, respectively. On the other hand, in the third quarter there was an improvement in the company’s results, revenues climbed to NIS 377 million and net profit to NIS 63 million. Although in the third quarter there was a decrease of about 12% in the company’s revenues, it is still a significant moderate decrease compared to previous quarters.


Did you find a mistake in the article?
Write to us and we will fix



Want to be updated?
Sign up for our mailing

Comments on the article(0):

Your response has been received and will be published subject to system policies.
Thanks.

For a new response

Your response was not sent due to a communication problem, please try again.

Return to comment

.Source