A Significant Vote of Confidence in Merchavia Holdings and Investments Ltd: More Investment House will lead a 4 million-shekel round of investment
The Tulip Capital Fund and Psagot Investment House will join More in the investment in Merchavia
Sep 14, 2020, 08:00 ET
RAMAT GAN, Israel, Sept. 14, 2020 /PRNewswire/ -- The public company Merchavia Holdings and Investments (TASE: MRHL) has announced the signing of an agreement with More Investment House that will invest approx. NIS 2.6 million in the company, thereby becoming an insider holder with a share of 6.85% of the company's stock capital. This agreement is part of an investment round valued at approx. NIS 4 million shekels. More Investment House will thus become the first institutional entity to attain the status of insider holding in Merchavia Holdings and Investments. The Tulip Capital Fund and Psagot Investment House will join More in the investment.
The investment is being implemented in exchange for private allocation of stock at the price of NIS 0.51 per share and allocation of non-tradeable stock warrants without cost, that can be exercised for a period of 3 years at a price of NIS 0.6.
Ilan Goldstein, The main Shareholder of Merchavia and a director: "We congratulate More Investment House for recognizing Merchavia's great potential and for choosing to lead a strategic investment in the company together with other leading financial institutions. We view this investment as a vote of confidence from a smart and influential investor capable of identifying lucrative business opportunities. Alongside our high-quality investments, we are continuing to explore possibilities to expand our quality investment portfolio and to continue yielding high value to the company's investors."
The round of investment was led by the investment banking firm Rosario Capital.
About Merchavia Holdings and Investments:
Merchavia is a public company traded on the Tel Aviv Stock Exchange. The company possesses diverse investments in bio-med companies with an emphasis on advanced digital health solutions.
About More Investment House:
More is a public investment house that was founded in 2006 with the aim of offering investors in Israel high-quality investment opportunities while adhering to quality, professional, and personal investment management. The investment house manages assets valued at approx. NIS 24 billion in a range of sectors and services: investment portfolio management, mutual funds, alternative investment management (hedge funds), long-term investment programs, and brokerage. More has been a publicly traded company on the Tel Aviv Stock Exchange since 2017.
Contact:
Eli Arad
[email protected]
SOURCE Merchavia Holdings and Investments
