Private equity firm FIMI Opportunity Funds. headed by Ishay Davidi, which held 59.4% of Hadera Paper (TASE: HAP), has sold shares representing 14% of the company to investment institutions at a price of NIS 235 per share, or NIS 210 million in total.
Hadera Paper’s share price closed at NIS 247.8 million on Thursday, which means that the sale was at a discount of about 5%.
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FIMI has undertaken that it will not sell more Hadera Paper shares for six months after August 16, 2021 at a price lower than NIS 258.5 per share. This undertaking will not apply to a sale to a strategic investor.
Hadera paper has a current market cap of NIS 1.6 billion, after a 137% rise in its share price in the past year.
Published by Globes, Israel business news – en.globes.co.il – on August 15, 2021
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